Speaking at a session dedicated to the 80th anniversary of the National Academy of Sciences, Azerbaijani President Ilham Aliyev spoke about the country's small external debt, while noting the decrease in GDP due to the reduction in the oil industry.
"Our economic indicators are positive. Yes, GDP growth is not high, but this is due to the objective decrease in oil production. However, the non-oil sector has become the leading force in the economy," he said.
Aliyev also noted that international rating agencies have raised Azerbaijan's credit rating to investment grade, which is a reflection of the republic's economic reforms.
