Baku, Azerbaijan, Oct. 20
By Ilaha Mammadli - Trend:
The government of Azerbaijan has set a maximum limit for the provision of state guarantees in the amount of 4 billion manats in the 2018-state budget.
The bill "On the State Budget for 2018" was published in the official press Oct 20.
This indicator was first introduced in 2017 and determined at the level of 10 billion manats.
Under the bill, about 2, 263 billion manats will be issued for the management of the state debt in 2018, which is less by 621 million manats (37.8 percent) compared to the figure in 2017.
Moreover, 103.18 million manats will be directed to fulfill obligations on domestic public debt, including 80.17 million manats for interest payments and 23.007 million manats - the main debt. To cover the external debt in 2018, it is planned to direct 2.159 billion manats, including 533.59 million manats for interest payments and 1.626 billion manats - the main debt.
The upper limit of domestic public debt for 2018 is projected in the amount of 700 million manats and external public debt - one billion manats.
As of July 1, 2017, Azerbaijan's external public debt exceeded $7,172 billion (12,209 billion manats), which is 18.9 percent of the country's GDP.
The Finance Ministry reports that the statistics on borrowing includes direct government obligations and contingent liabilities for the loans attracted under the state guarantee.
The external public debt id made up mainly of credit programs and infrastructure projects of international financial institutions, as well as securities placed on international financial markets.
The country's external debt was $ 7 billion (18.1 percent of GDP) as of April 1, 2017.