External Public Debt Increased by 36.6%

The Ministry of Finance has published the information on the part of the public external debt, according to which since the beginning of the year the volume of debt, taking into account the repayment of current debt and the interest on them has increased as of 1 July of this year by 146 million USD or 2.2%.

According to the Ministry of Finance, the share of external debt to GDP is 12.2%, whereas at the beginning of the year the figure was 3.6 percentage points lower (8.6%).

It is noteworthy that in manat terms, the volume of external borrowing for the first half of 2015 grew by 36.6% (1 billion 859.5 million AZN).

Over the next 10 years they will have to return to the state 7% of the total external borrowing, from 10 to 20 years - 59.7%, more than 20 years - 33.3%, the government calms the public.

It is noteworthy that only in 2016 the state budget expenditures for servicing the external debt will amount to 1 billion 249.7 million manats or 7.7% of the expenditure side. In 2015, for these purposes it is projected to forward 691,500,000 manats. Some experts argue that in many cases the debt borrowed from international lenders by state-owned companies are repaid by the state budget. ----08B