As of 1 July 2015 Azerbaijan's foreign debt amounts to $ 6.6 billion. This is 1.8%, or approximately $ 120 million more than at the beginning of this year.
If at the beginning of the year the ratio of external borrowing to GDP was 8.6%, by the end of the first half of 2015 this figure grew to 12.2%. It is reported by the Ministry of Finance in the document on the forecast of the state budget and social and economic development in 2016 and the coming 3 years.
Every inhabitant of the country accounts for $ 686.5 of foreign debt.
Next year to repay foreign debt, a record amount of money will be allocated from the state budget - 1 billion 249.7 million manats. That's 473.5 million manats or 61% more than this year.
At the expense of the state budget, the obligations of credits and interests of government commercial companies (JSC Azerishiq, Azeraluminium and Azerbaijan Airlines) are also fulfilled. ----08D
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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