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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The INMerge Innovation Summit, organized by PASHA Holding, continued in Baku on Friday. The summit brought together leading industry leaders, startups, and investors in the fields of fintech, e-commerce, artificial intelligence, and digital business.
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The Cabinet of Ministers of the Republic of Azerbaijan has approved a new regulation titled “Procedure for the Transfer of Regulatory Functions and Duties for Flight Safety Supervision,” aligning with the country’s obligations under international civil aviation agreements.
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In September 2024, Azerbaijan experienced a noticeable increase in the Consumer Price Index (CPI), reflecting broader economic trends and the impact of various factors on the market. The CPI, a critical indicator of inflation, rose by 3.5% compared to the same month in 2023. This growth was driven by several components, including food and non-food products, as well as paid services provided to the population.
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The shareholders of JSC "Saba" (Səba) have scheduled an extraordinary general meeting for October 28 at 15:00, where the main agenda item will be the liquidation of the joint-stock company and the formation of a liquidation commission, according to company announcements.
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