Vusal Gasimli: Azerbaijan has wide opportunities for raising foreign loans

16:43 - 10.06.2020


June 10, Fineko/abc.az. Since the beginning of this year Azerbaijan’s direct external public debt has amounted to $8.32 bn and contingent liabilities on governmental guarantees for loans raised by state-run enterprises $771 million. And in particular, the total external public debt has reached $9.1 bn.

ABC.AZ reports that the above-mentioned statement was made by Vusal Gasimli, the executive director of the Center for Analysis of Economic Reforms & Communications.

He noted that the analysis shows that after funding priority projects, the ratio of external public debt to GDP will continue on a downward trend:

"Even government’s debt strategy says that in case of raising new loans, the repayment obligations on the external public debt gradually decrease and in 2025 this indicator is projected to be 12%. Currently, Azerbaijan has wide opportunities for raising foreign loans for its projects."

 

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