As of 1 November 2016, the public external debt of Azerbaijan amounted to 7 billion 650.7 million manat. This is $ 920 million more than a year earlier.
The Ministry of Finance opened the amount of public debt in absolute terms, without any other indicators. This is contrary to the law. According to the law "On State Duty", the Government quarterly reports to the public about all the parameters of public debt, including the principal sum and the accrued interest, foreign currency debt structure, borrowers about debt repayment, etc.
It notes that in 2016 it was supposed to pay the government debt of about AZN 1 billion 120 million, which was 7.7% of the state budget. However, only public external debt in the third quarter of this year increased by $ 12.1 million.
On October 1, 2016 the ratio of total external public debt to GDP was 20.1%. ----08D
Economics
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Azerbaijan President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
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The Italian government has extended the deadline for applications in the international tender for the sale of several strategic assets until February 14, confirming that a bidder from Azerbaijan remains among the frontrunners.
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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