Ilham Aliyev: By increasing our gold reserves, the State Oil Fund earned more than 10 billion US dollars

Last year we also made a strategic decision to increase the country's gold reserves. We clearly saw the geopolitical development of events, and I was absolutely certain that the price of gold would rise. And it skyrocketed.

As reported by AZERTAG, President of Azerbaijan Ilham Aliyev stated this on January 5 in an interview with local TV channels.

Emphasizing that this decision brought Azerbaijan significant income, the head of state noted: "Thanks to increasing our gold reserves, our State Oil Fund earned more than 10 billion US dollars from this alone. But if the price falls, of course, our reserves will decrease. Therefore, now our reserves change every day. Today, they probably amount to 84 or 83 billion dollars. Tomorrow it will be 85 billion. But nevertheless, these are among the highest reserves per capita in the world."