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Azerbaijan's foreign debt made up 20.7% of GDP

19 February 2021 18:22 (UTC +04:00)

As of January 1st, 2021, the external public debt of the Republic of Azerbaijan constituted 8,821.5 million US dollars (equivalent to 14,996.5 million manats). The debt to Gross Domestic Product (GDP) ratio for 2020 stands at 20.7 percent. The external public debt consists of direct obligations of the state in the amount of 8,100.4 million US dollars or 19.0% of GDP and contingent liabilities emanating from external sovereign guarantees which were equivalent of 721.1 million USD or 1.7% of GDP, Ministry of Finance of Azerbaijan told APA-Economics.

The external public debt comprises of loans attracted from international financial institutions to finance infrastructure projects and programs, as well as government bonds issued in the international financial markets.

As of January 1st, 2021, the domestic public debt totaled 1.942,1 million manats or 2.7 % of GDP, consisting of direct obligations of the state in the amount of 1.726,0 million manats or 2.4% of GDP and contingent liabilities emanating from domestic sovereign guarantees which were equivalent of 216,3 million manats or 0.3% of GDP.