Per Head Foreign Debt of Azerbaijan Exceeds $300

Business Materials 13 May 2008 14:02 (UTC +04:00)

Azerbaijan, Baku, 13 May / corr. Trend I. Khalilova/ As of 1 April 2008, the foreign debts of Azerbaijan reached $2.596.500.000 which makes up 6.4% of GDP, the Ministry of Finance of Azerbaijan said. The volume of the foreign debts rose by 6.3% as compared to the beginning of the year.

Per head foreign debt makes up $300.9.

In the first quarter some $32mln credits were spent. The expenditures on the interest rate of the foreign debts made up $40.7mln. The main debt accounts for $33.8mln and interest rate - $6.9mln. Some $14.3mln was allocated to repay loans.

Some 14.5% ($377.7mln.) of the foreign debt accounts for the credits directed to the economic reforms with $94.3mln (3.6%) accounting for debts from IMF and $283.4mln (10.9%) for WB. The large portion of the loans - $2.218.800 (85.5%) were put into financing investment projects.

Some 36.4% ($945.7mln.) were directed to the energy sphere, 7.7% ($200.4mln) to agriculture and melioration, 18.1% ($471mln) - road construction and transport, 1.6% ($41.2mln) - chemical industry, 6.6% ($170.7mln) - oil and gas sector, 7.3% ($189.8mln) - social spheres.

The official exchange rate for 13 May is 0,8269 AZN/USD.

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