Baku, Azerbaijan, Aug. 24
By Maksim Tsurkov – Trend:
Azerbaijan’s external debt stood at $7,172.6 million (12,208.5 million manats) as of July 1, 2017, which accounts for 18.9 percent of the country’s GDP, said Azerbaijani Ministry of Finance.
The statistics on borrowings include direct liabilities of the Azerbaijani government and contingent liabilities for loans attracted under state guarantee.
Azerbaijan’s external debt consists mainly of funds raised from international financial institutions within credit programs and infrastructure projects, as well as securities placed in international financial markets.
As of April 1, 2017, Azerbaijan’s external debt reached $7 billion, or 18.1 percent of the GDP.