17:05 - 8.10.2021

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October 8, Fineko/abc.az. According to Moody's Investors Service (Moody's), before the start of the COVID-19 pandemic in Azerbaijan, the ratio of total public debt to GDP was approximately 20%. This is the best indicator after Kazakhstan among the countries of Central Asia and the Caucasus.

Despite the shocks of the pandemic and low oil prices, sound management of financial buffers in Azerbaijan will allow the country to avoid additional debt and prevent an increase in the ratio of total public debt to GDP more than by 24-25% by 2023.

As a result, by 2023, the country will be ahead of Kazakhstan in this indicator and will become the regional leader.

According to Ministry of Finance’s latest data, the total state debt of Azerbaijan amounted to AZN 17.35 bn or about 21.6% of GDP.

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