Azerbaijan's foreign exchange reserves exceed the global standard by more than 13 times

Azerbaijan's strategic foreign exchange reserves increased by $4.3 billion, reaching $89.4 billion.

As Report informs, this was stated by the Chairman of the Central Bank of Azerbaijan (CBA) Taleh Kazimov at a press conference.

"The country's strategic foreign exchange reserves allow financing the import of goods and services for 40 months. According to international practice, the minimum recommended indicator is three months. In Azerbaijan, this indicator reaches 40 months, which represents a very significant financial safety cushion," he said.