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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In recent months, an increase in the price of butter has been observed in Azerbaijan. Notably, this is the third price hike within a year. According to consumers, certain brands of butter that cost 19 manats per kilogram at the end of last year are now being sold for 24 manats, marking a nearly 30% increase.
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Azerbaijan has signed an "Agreement on Project Implementation" with China’s BYD Company Limited (BYD) to establish a domestic production line for electric buses, officials announced.
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Russia has reduced its greenhouse gas emissions by more than twofold from the 1990 baseline, Russian Prime Minister Mikhail Mishustin announced at the COP29 climate summit.
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Georgian Prime Minister Irakli Kobakhidze announced that Georgia will present its updated Nationally Determined Contribution (NDC 3.0) by 2025, signaling the country’s renewed climate ambitions during his speech at the COP29 summit in Baku on Wednesday.
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