As of January 1 of this year, the state external debt of Azerbaijan is 6 billion 913.2 million US dollars (12 billion 241.3 million manat). This is 1% more than at the beginning of last year.
According to the Ministry of Finance, for the fourth quarter of last year the state external debt decreased by $ 737.5 million.
The ratio of external debt to GDP is 20.4%.
The Ministry of Finance does not report on the structure of the national debt, noting only that it consists of loans from international financial institutions and government securities placed in international financial markets. Unlike previous reports, the ministry does not also report on the currency structure of debts and the terms of their repayment.
In 2017, 10% (1 billion 641 million manat) of state expenditures will be directed to repayment of external and internal public debt. ----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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