Azerbaijan�s Foreign Debt Grew by Four Billion in Annual Comparison

Baku / 14.02.18 / Turan: According to the Ministry of Finance, as of January 1 of this year, Azerbaijan's external public debt amounted to 9,398.3 million US dollars. In manat terms this is about AZN 16 billion.

The Ministry reports that the external debt to GDP is 22.8%. The volume of GDP, calculated for 2017 reached 70.135.1 million manat.

The external public debt includes contingent liabilities on direct government obligations and loans secured by state guarantees.

The national debt consists of loans from international financial institutions for infrastructure projects and funded programs, as well as securities placed on international financial markets.

In the official information disclosed in mid-2017, Azerbaijan's external debt for July was 12,208.5 million manat (7,172.6 million dollars).

At that time, the state external debt relative to GDP was 18.9%.

Compared with the newly disclosed figures for six months, the national debt grew by more than $ 2 billion.

In January 2017, the state debt was higher than 12 billion 241 million manat (6 billion 913.2 million US dollars). In the annual comparison, the external debt grew by 4 billion manat.

The Ministry of Finance, as always, disclosed only the total amount of the external debt.

Many economists do not agree with official information about Azerbaijan's external debt. They believe that there is more foreign debt. -0-