Azerbaijan considers increasing its external public debt - finance minister

Economy Materials 23 May 2024 12:31 (UTC +04:00)
Elchin Mehdiyev
Elchin Mehdiyev
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BAKU, Azerbaijan, May 23. Azerbaijan is considering increasing its external public debt to $10 billion, the country’s Finance Minister Samir Sharifov said during the discussion of the draft law "On the execution of the state budget of Azerbaijan for 2023" in the Azerbaijani parliament on May 23, Trend reports.

The minister pointed out that Azerbaijan's external public debt is currently rather low.

"However, alongside this low level, certain decisions have been made, and it was deemed advisable to attract loans, thereby somewhat expanding cooperation with financial credit organizations in terms of addressing specific challenges and projects facing our country.

Therefore, an increase in the external public debt to approximately $10 billion is being considered. Currently, this debt stands at $5.5 billion. This year, we also have significant repayments. This allows us to pursue a conservative foreign currency borrowing policy while also carrying out large infrastructure projects facing our country," added Sharifov.

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