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
Economics
-
According to the State Customs Committee, in the first eleven months of this year, Azerbaijan transported 6.96 million tons of cargo by rail, worth $3.01 billion. This represents a 4% decrease in volume and a 10.1% decline in value compared to the same period in 2023.
-
The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
-
Azerbaijan's ambitious program to restore territories liberated from Armenian occupation has attracted attention due to the extensive use of single-source procurement methods, raising concerns about transparency and corruption.
-
Azerbaijan recorded a 2% increase in wheat imports from January to November 2024 compared to the same period in 2023, underscoring its continued reliance on external sources to meet domestic demand. This growth comes amid a significant decline in domestic wheat production, which decreased by 148,100 tons in 2024, further intensifying the need for imported supplies.
Leave a review