Baku, Azerbaijan, May 24
By Kheyraddin Nasirzade - Trend:
Azerbaijan’s domestic debt amounted to 8 percent of the country’s total debt in the beginning of 2019, said Vugar Ibrahimov, head of the state debt analysis department of the Chamber of Accounts of Azerbaijan, Trend reports.
He was speaking at a meeting of the working group of the International Organization of Supreme Audit Institutions (INTOSAI). Ibrahimov noted that as of January 1 this year, Azerbaijan’s domestic debt amounted to 1.32 billion manats, and external debt stood at 15.2 billion manats, which makes 92 percent of the total debt.
As of January 1, 2019, external debt per capita amounted to 1,653.9 manats.
The ratio of public debt to GDP is about 20 percent.
At the beginning of the year, the value of attracted foreign loans secured by the state amounted to $8.9 billion. As much as $1.22 billion was allocated from the state budget to repay foreign debt, of which the main debt amounted to $920 million, while accrued interest stood at about $299 million.
Ibrahimov noted that at the beginning of 2019, the value of loans for a period of up to 10 years amounted to $3.176 billion, which is 22.3 percent less compared to the same period last year. The value of loans for a period from 10 to 20 years amounted to $5.305 billion, which is 3.6 percent less than in the same period last year. The value of loans for a period of more than 20 years amounted to $444.6 million, which is 29.6 percent more compared to the same period last year.
In the structure of Azerbaijan’s domestic debt with the value of 1.32 billion manats, the bulk of the debt accounted for government bonds worth 1.06 billion manats. The total liabilities of the Central Bank of Azerbaijan and other debts totaled to about 260 million manats.