BAKU, Azerbaijan, Feb. 21
By Zeyni Jafarov - Trend:
The volume of the direct external public debt of Azerbaijan within the loan agreements signed with various international financial institutions and banks amounted to $8.1 billion or 19 percent of 2020 GDP by January 1, 2021, Trend reports with reference to the Azerbaijani Ministry of Finance.
As reported, conditional obligations on state guarantees on foreign loans attracted by state-owned enterprises are estimated at $721.1 million or 1.7 percent of GDP.
Accordingly, the external public debt amounted to $8.8 billion, which is equal to 14.9 billion manat or 20.7 percent of GDP.
The ministry report reads that the external public debt consists of loans raised from international financial institutions for infrastructure projects and funded programs, as well as government securities placed on international financial markets.
By early January 2021, Azerbaijan's direct internal public debt amounted to 1.73 billion manat ($1.01 billion) or 2.4 percent of GDP. Contingent liabilities on domestic loans attracted under the state guarantee amounted to 216.3 million manat ($127.2 million) or 0.3 percent of GDP.
As a result, Azerbaijan's domestic public debt totaled over 1.94 billion manat ($1.14 billion) or 2.7 percent of GDP.