17:18 - 10.06.2020

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June 10, Fineko/abc.az. Public debt is projected to rise up to 13 percentage points this year, and global GDP is expected to grow from 83% up to 96%.

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

He added that this indicator is 5-fold lower than the world average in Azerbaijan.

At the same time, the fiscal balance is expected to be sharply negative in developing countries, and in middle-income and low-income countries it is expected to reach -9.1% and -5.7% of GDP, respectively.

Financial withdrawals from the portfolio of non-residents of developing countries reached $100 bn with an upward trend since the end of January of 2020:

"Despite very low global interest rates, the cost of borrowing for most developing countries has increased: the credit spread on sovereign bonds of developing countries has more than doubled from the beginning of the year to April and reached 600 bps (6%). More than 100 countries have applied to the IMF to get urgent financial assistance through the rapid financing tool (RFI)."