Azerbaijan Considers Increasing Its External Public Debt - Finance Minister

2024-05-23 05:22:03

(MENAFN- Trend News Agency) BAKU, Azerbaijan, May 23. Azerbaijan isconsidering increasing its external public debt to $10 billion, thecountry's Finance Minister Samir Sharifov said during thediscussion of the draft law "On the execution of the state budgetof Azerbaijan for 2023" in the Azerbaijani parliament on May 23,Trend reports.

The minister pointed out that Azerbaijan's external public debtis currently rather low.

"However, alongside this low level, certain decisions have beenmade, and it was deemed advisable to attract loans, therebysomewhat expanding cooperation with financial credit organizationsin terms of addressing specific challenges and projects facing ourcountry.

Therefore, an increase in the external public debt toapproximately $10 billion is being considered. Currently, this debtstands at $5.5 billion. This year, we also have significantrepayments. This allows us to pursue a conservative foreigncurrency borrowing policy while also carrying out largeinfrastructure projects facing our country," added Sharifov.

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