Matter of increasing Azerbaijan’s external state debt up to $10 bn under consideration

16:22 - 23.05.2024

May 23, Fineko/ Azerbaijan's external public debt is at a fairly low level.

ABC.AZ reports that Finance Minister Samir Sharifov said this at today's meeting of the Milli Majlis Committee on Economic Policy, Industry and Entrepreneurship during the discussion of the Bill on Execution of State Budget 2023.

"However, along with the low level of external debt, certain decisions have been made. From angle of certain tasks facing our country, it was considered advisable to expand cooperation with financial and credit organizations and attract loans for the implementation of projects. In this regard, the issue of increasing the external public debt to about $ 10 billion is being considered. We’ll have quite a lot of payments this year too. This allows us to carry out conservative borrowings in foreign currency and implement major infrastructure projects in the country," the minister said.