Azerbaijan’s foreign debt-to-GDP ratio became to double-digit number the first time in the last decade

Azerbaijan’s foreign debt-to-GDP ratio became to double-digit number the first time in the last decade

Azerbaijan’s foreign public debt amounted to 7.05 billion manat which accounts for 12.4 percent of the country’s GDP, the Azerbaijani Ministry of Finance has reported. The message said that the statistics on the loans included direct obligations of the state and contingent liabilities on loans under state guarantee. Of the total volume of borrowings, some 8 percent was attracted for up to 10 years, 58.6 percent – for the period from 10 to 20 years, and 33.4 percent – for a period exceeding 20 years.

CESD has underlined that Azerbaijan’s foreign debt’s share in GDP became as a double digit number in the GDP first time in the last decade. The country has been able to keep share of the foreign debt in the GDP as a single digit number by 2015 since 2005. CESD experts mentioned that there are 2 main reasons of increasing of share of foreign debt in the GDP in Azerbaijan…

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