Baku, Azerbaijan, March 6
By Emin Aliyev - Trend:
The Azerbaijani government ensured the full management of public debts and financing of international events in 2013, according to a Cabinet of Ministers' report on the activity in 2013, presented to parliament for discussion.
'As of January 1, 2014, loan agreements worth $ 12 billion were signed with the international financial and credit organisations cooperating with Azerbaijan', according to the document. 'The country's external public debt amounted to $6.1 billion through the loans upon the signed agreements'.
As of January 1, 2014, the amount of Azerbaijan's external public debt amounted to 4.753.2 billion manat which is 8.2 percent of the country's GDP.
'Expectations on the upper limit of state borrowing were ensured during the year', the report stated.
'Funds were allocated as part of loan agreements signed in 2013', according to the report. 'Some $966.4 million directed for various investment projects including construction and reconstruction of power plants, roads, sewage systems, water supply, irrigation and other infrastructure were used. Some 98.1 million manat was drawn to the state budget as a result of selling state bonds during the year'.
'The country continues investing in infrastructure projects abroad. Some 32.8 million euros were allocated to the Serbian Republic in 2013 to finance a 300 million euro project towards constructing three sections of a road worth 300 million euros', the report said.
The official exchange rate is 0.7844 AZN/USD on March 6.
Translated by NH
Edited by SM