Azerbaijan posts increase in foreign public debt


August 15, Fineko/ The state budget for 2022 sets an upper threshold for domestic public borrowing at 1,100 million manats, an upper threshold for external public borrowing at 600 million manats, and an upper threshold for state guarantees during the year at 800 million manats, ABC.AZ reports with reference to the information from the Accounts Chamber, based on the semi-annual data on the execution of the state budget for 2022.

As of July 1, the total public debt was 14.7% of GDP, including external public debt at 11.7% of GDP, and domestic public debt at 3% of GDP.
The growth of gross public debt was due to the growth of domestic borrowing, the amount of external public debt decreased, and contingent liabilities for domestic government guarantees increased.

For six months, direct external public debt decreased by 384.7 million manats, while direct domestic public debt increased by 282.6 million manats. Total contingent liabilities increased by 131.5 million manats, as a result of which the total public debt rose by 29.4 million manats. As compared to the beginning of the period, contingent liabilities on domestic guarantees increased by 177.5 million manats (31.6%).