Azerbaijan's foreign debt decreases

# 12 August 2022 20:26 (UTC +04:00)

The upper limit of internal state borrowing in the state budget for 2022 is 1100.0 million. AZN, the upper limit of foreign state borrowing is 600.0 mln. AZN, the upper limit of the amount of state guarantees to be given during the year is 800.0 mln. manat was determined, said in the semi-annual report on the implementation of the 2022 State budget prepared by the Accounting Chamber, APA reports.

It was noted that as of July 1, 2022, the total public debt is 14.7% of GDP, including external public debt – 11.7% of GDP, internal public debt – 3.0% of GDP.

The increase in the total public debt was due to the increase in domestic borrowing. The amount of foreign state debt has decreased, and contingent liabilities on domestic state guarantees have increased. In 6 months, the direct external public debt decreased by 384.7 million manats, and the direct internal public debt increased by 282.6 million manats. Total contingent liabilities increased by 131.5 million manats. As a result, an increase of 29.4 million manats was recorded in the total state debt. Compared to the beginning of the period, contingent liabilities on internal guarantees amounted to 177.5 mln. manat (31.6%) increased.