“Over the past 18 years, the economy of Azerbaijan has developed rapidly, and the gross domestic product increased more than three times,” Azerbaijani President Ilham Aliyev said at the 15th ECO Summit in Ashgabat, Report informs via Azertag.

“Azerbaijan has achieved a favorable investment climate as a result of large-scale reforms. Azerbaijan is placed 28th out of 190 countries in the World Bank’s Doing Business survey. Around $280 billion has been invested in the Azerbaijani economy, half of which is foreign investment.

Our strategic foreign exchange reserves exceed our external state debt by over six times.