AZERBAIJAN`S CURRENCY RESERVES EXCEED $18 BILLION, PRESIDENT ILHAM ALIYEV

Baku, 19 January (AzerTAc). “Thanks to our successful oil strategy, Azerbaijan`s
currency reserves are on a very high level. Azerbaijan`s currency reserves exceeds
$18 billion, while its state debt $2 billion”, said President Ilham Aliyev on Friday
at the meeting of the Cabinet of Ministers to sum up socio-economic results of 2008.

The President said: “This is a very high indicator, which allows us to further
continue our economic reforms and to realize our tasks successfully.”
The head of State also said despite financial crisis observed in the world, the
state budget for 2009 has increased. Expenses of this year`s state budget make up
$15.4 billion, while the consolidated budget is $18.4 billion: “This budget will let
us solve all social problems, continue infrastructural projects and carry out all
works necessary for the nation in 2009.”
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