As of July 1, 2014 public external debt of the Republic of Azerbaijan is 4 billion 987,900,000 manat at a ratio of 8.5% of GDP.
According to the Ministry of Finance, with the beginning of the volume of external borrowing loans increased by 234.7 million manat or 4.9%. For each inhabitant of the country there is 523.44 manat of external debt. Earlier this year, the figure was 21.90 manat below.
The Finance Ministry said that 62% of the external debt is borrowed for a period of 10 to 20 years, 30.3% - more than 20 years, the remaining 7.7% - up to 10 years. Note that the external debt of the country's growing every year. On 1 January 2013 the external debt amounted to 4 billion 481,100,000 manat, January 1, 2012 - 3 billion 788.3 million manats, January 1, 2011 - $ 3 billion 857.3 million., and January 1 2008 - $ 2 billion 441.9 million.
The main creditors of the country are the World Bank, Islamic Development Bank, the Asian Development Bank, European Bank for Reconstruction and Development, the International Cooperation Agency of Japan and other credit institutions. The bulk of the external public debt in dollars - 60.6%, in EUR - 24.3% in yen - 2.3%, there is also a minor equivalents of other national currencies.
According to the State Statistics Committee, the country has registered 9,000,000. 528.9 thousand people. --08B--
Economics
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Azerbaijan is poised to increase wheat imports for the 2024-2025 season following a significant drop in domestic wheat production this year. According to data from the State Statistics Committee, the country harvested 1.68 million tons of wheat in 2024, marking an 8.1% decline from the previous year. This downturn in output, combined with rising import volumes in recent months, indicates that Azerbaijan may lean more heavily on foreign suppliers to meet its wheat needs.
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Azerbaijan Railways CJSC (ADY) has announced the restructuring of its container transportation management in an effort to enhance the efficiency of transit cargo transportation. As part of this reorganization, ADY Express will merge with ADY Container starting on November 1, 2024. The consolidation is aimed at expanding the range of services offered in both container and carriage transportation.
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Azerbaijan has introduced a legal framework enabling the electronic state registration of legal entities with foreign investments, regardless of whether their founders are individuals or legal entities, according to the State Tax Service. The announcement was made by Samira Musayeva, Deputy Head of the State Tax Service, during a meeting of the "Entering Business" Working Group.
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The World Bank aims to deepen its involvement in Azerbaijan's economic development through a new partnership framework program, according to discussions between Azerbaijani officials and World Bank representatives. The proposed framework, which will cover the years 2025-2029, is designed to support the country’s transition to an innovative and less resource-dependent economy.
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