Azerbaijan unveils external public debt to GDP ratio

April 17, 2022 3:10 p.m. (UTC+04:00)

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Azerbaijan’s external public debt stood at $7.4 billion, or 12.5 percent of GDP at the start of April 2022, said Azer Mursagulov, director of the Public Debt Management Agency and financial obligations of the Azerbaijani Ministry of Finance, reports Trend.

According to Mursagulov, Azerbaijan’s domestic public debt amounted to 2.6 billion manats ($1.53 billion), or 2.6% of GDP.

“The foreign debt indicator is relatively lower than in other countries of our region. In addition, the ratio of Azerbaijan’s total public debt to GDP is 15.1%,” he said. he declares. “The cost of state guarantees provided by Azerbaijan is 1.8 billion manats ($1.06 billion), or 1.6% of GDP. Thus, the ratio of public debt to GDP is just under 17%.

The head of the agency also noted that public debt funds are formed at the expense of long-term loans issued by international financial organizations. The average maturity of these loans is seven to eight years (nearly two years for domestic debt).

Mursagulov pointed out that the public debt of the countries of the world has increased from almost 85 trillion dollars to 93 trillion dollars during the year.

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John A. Bogar