Azerbaijan Announces Total Loan Deals Number

Business Materials 11 November 2008 16:27 (UTC +04:00)

Azerbaijan, Baku, 11 November / Trend , corr. I.Khalilova /"The total number of loan deals that Azerbaijan signed with international and other financial organizations as for 1 October 2008, made up $6.3bln," Samir Sharifov, the Finance Minister, said at the plenary session of the Parliament dedicated to discussions of the state budget for 2009.

"These loan resources were attracted to implement priority for the government programs, including social and infrastructure projects of state-owned enterprises," Sharifov said.

Some $2.8bln of the common sum has already been used. The percentage of Azerbaijan's foreign debt in the forecasted GDP for 2008 touched 5.6%, which is considered a low level in the world borrowing experience.

"In 2009, Azerbaijan, like in previous years, will pay a special attention to pay foreign debts, membership fees, which will promote country's image abroad," the minister said.

Some AZN 250mln was invested into the state budget -2009 to pay off state debts and membership fees to international organizations, some AZN 199mln out of the sum will be directed to pay foreign borrowing and AZN 22.6mln - membership fees.

The correspondent can be contacted at: [email protected]