2014 March 03 (Monday) 16:55:05
As of January 1, Azerbaijan's public external debt amounted to 5 billion 753.2 million manat, representing 8.2 % of GDP, reported the Ministry of Finance of Azerbaijan.
According to the Ministry of Finance, about half of the loans (48.3%) were attracted by the government with a maturity of more than 20 years, from 10 to 20 years - 43.6%, up to 10 years - 8.1%.
Government entertains people that in other countries external debt is much higher. For example, in Turkey it is 36 % of GDP, Russia - 14.1%, Georgia - 32.9%, Hungary - 79.8%, Slovakia - 34.3%, and the Czech Republic - 40.2%.
Comparison of the data as the Ministry of Finance shows that in 2013 Azerbaijan's foreign debt rose from $ 5.7 billion to over $ 6 billion, in 2012- 201Z 's total debt increased by $ 1,233 million State external debt per capita in 2013 increased from $ 610 to $ 639.
Azerbaijan borrows debts guaranteed by the Government mainly from international financial organizations (World Bank, European Bank for Reconstruction and Development, the Islamic Development Bank, Asian Development Bank, etc. ) , as well as the Czech Banking Consortium , Japan International Cooperation Agency , the German Development Bank, etc. - 08D -
Economics
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Azerbaijan's Cabinet of Ministers has approved amendments to the list of strategically important goods in the country's consumer market, as outlined in Decision No. 136 dated April 27, 2023. The update aligns with the implementation of the Law on State Reserves and a corresponding presidential decree, the government announced on Thursday.
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Representatives of Azerbaijani and Latvian business circles convened in Baku for the "Azerbaijan-Latvia Information and Networking Meeting," marking a significant step in bolstering economic cooperation between the two countries. Latvian Ambassador to Azerbaijan, Edgars Skuja, underscored the event’s mission to connect entrepreneurs from both nations, aiming to enhance collaboration across multiple sectors.
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The President of Azerbaijan approved the amendments on November 7, which were made to the “Law of the Republic of Azerbaijan on Credit Bureaus” by the Milli Majlis. The text of the amended law was published on November 28.
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The European Bank for Reconstruction and Development (EBRD) has released its Transition Report 2024-25 for Azerbaijan, urging the country to take bold steps to improve economic governance and foster private sector development. The report outlines key priorities for Azerbaijan’s economic trajectory and highlights challenges stemming from its reliance on volatile energy markets.
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