External Debt Becoming Serious Problem - Rovshan Agayev

External debt, growing at a faster pace, is becoming a serious problem, the economist Rovshan Agayev said.

On his profile on the social network Facebook, the economist pointed out that in 2015-2016 the foreign debt grew by about 25%, while the share of external debt in GDP increased from 7.5% to 21%.

"Due to the fact that the conditions for receiving debt have become more stringent, the bulk of the external debt is short-term debt - up to 10 years. While only 7% of the total external debt was short-term (up to 10 years) until 2014, it is now 50% of the external debt is short-term," he said.

Agayev said that according to the statistics, external debt to be repaid by 2025 is more than 4 billion dollars.

According to him, given the government's need for additional credits, we can predict that this figure will increase. 71D

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Economics

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