The international rating agency Fitch Ratings predicts that Azerbaijan’s strategic foreign exchange reserves will reach 93 billion US dollars in 2026, APA-Economics reports.
According to the agency, this figure will be equal to 117% of the country’s projected gross domestic product (GDP).
Fitch reports that 84% of the assets are held in the State Oil Fund of Azerbaijan (SOFAZ), and the rest in the international reserves of the Central Bank of Azerbaijan.
According to the agency’s assessment, the rise in oil prices against the backdrop of the conflict in the Middle East will increase Azerbaijan’s oil and gas revenues, which will create conditions for the growth of foreign assets.
Fitch added that Azerbaijan’s net sovereign foreign assets will reach 73% of GDP in 2026, which is the highest indicator among countries with a “BBB” rating.
