20:13 - 4.11.2026

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November 4, Fineko/abcnews. Speaking at a parliamentary committee meeting, Minister of Finance Sahil Babayev stated that Azerbaijan's strategic foreign exchange reserves reached $89.4 billion as of October 1, exceeding the external public debt by approximately 20 times.

The minister noted that based on a benchmark oil price of $65 per barrel, the State Oil Fund's (SOFAZ) revenues are estimated at $7.8 billion and expenditures at $7.1 billion for the upcoming year. The annual transfer from SOFAZ to the state budget is projected at $7 billion, representing a $550 million (₼935 million) reduction compared to the current year.