BAKU, Azerbaijan, June 6. Having very large public debt is unacceptable to Azerbaijan, Finance Minister of Azerbaijan Samir Sharifov said during the discussion of the draft law "On the execution of the State Budget of the Republic of Azerbaijan for 2022" at today's meeting of the Milli Majlis (Parliament), Trend reports.
Azerbaijan has specific goals and strategies for borrowing.
"We are implementing measures in accordance with this strategy today. Most credit rating agencies, when providing loans to Azerbaijan, first analyze the debt situation," Sharifov said.
According to the updated state budget for 2023, the funds, which are allocated for general expenses and expenses related to servicing the public debt, amount to 3.2 percent of total expenditures or 1.1 billion manat ($6.4 million).