As of 1 January 2015 Azerbaijan's foreign debt amounted to 5 billion 81.5 million manat ($ 6 billion 478,200,000), said the Ministry of Finance. During the year the burden of external debt increased by 328.3 million manat, or 6.9%.
Unlike previous years, the Ministry of Finance for about the last five years has not revealed the operations on the maintenance and borrowing of debts from foreign sources. According to the state budget for 2014, last year it was planned to spend 697.2 million manat on repaying the external debt, of which 492.6 million manat or 70.6% accounted for the principal debt. It is not known whether the Azerbaijani government bonds totaling $ 1 billion 250 million and placed in March 2014 were included in the total amount of the external debt.
According to the Ministry of Finance, as of January 1, 2015 about two-thirds of the foreign debt was borrowed in US dollars, Euros – 21.4%, SDR (Special Drawing Rights IMF) - 9.9%, etc.
Note that the external debt of the country per capita now stands at $ 675.3 that $ 63 or 10.3% more than in early 2014. -----08D
Economics
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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The German-Azerbaijani Chamber of Commerce (AHK Azerbaijan) hosted its biannual Members' General Meeting in Baku on December 18, 2024, gathering over 80 business representatives to reflect on the chamber’s milestones and chart a path forward.
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