Azerbaijani currency reserves to reach $100 billion by 2021

Azerbaijan's currency reserves may reach $100 billion by 2021, Ziyad Samedzade, Chairman of the Parliamentary Committee for Economic Policy, said at a conference on “Systemic cooperation between public unities of manufacturers, businessmen and structures of state support as an inherent condition for socio-economic development”, Trend reports.


The reserves may exceed the stated sum. The finances will be used for the State Oil Fund and infrastructure projects, which would also form conditions for development of private business.


Azerbaijan's strategic currency reserves have reached $38 billion. The Central Bank holds $6943.3 million of funds.


The strategic currency reserves are formed from assets of the State Oil Fund, the currency reserves of the Central Bank and deposits of the government.

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