Fitch Expects Azerbaijan's Gov't Debt To Increase To 22.7% Of GDP
Date
7/27/2024 8:09:38 AM
(MENAFN- AzerNews)
Fitch Ratings project Azerbaijan's government debt to increase
modestly to 22.7% of GDP by 2026, one of the lowest among Fitch's
investment-grade sovereigns, after increasing by 10pp to 21.8% of
GDP due to the recognition of previously domestically guaranteed
debt in 2023, Azernews reports, citing the
agency.
"External debt has declined in absolute terms in recent years,
currency composition has improved and about two-thirds of external
debt is to official creditors. External government guarantees and
on-lending declined to $6 billion (8.2% of GDP) in 2023, from $6.4
billion in 2022, with most of this related to the Southern Gas
Corridor project, which is profitable and not likely to require
sovereign support," the agency said.
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