Azerbaijan maintains one of the world’s lowest levels of public debt

Azerbaijan demonstrates one of the world’s strongest indicators in borrowing policy, with total public debt expected to stand at around 20% of GDP by the end of the year, Finance Minister Sahil Babayev said in an interview with AZERTAC and AzTV.

“Our current indicator is lower. By the end of the year, we will undertake certain borrowings in order to fully cover budget expenditures,” Babayev said.

According to him, from this perspective, there are very few countries in the world with debt below 20% of GDP. In most countries, these figures reach 100% of GDP, the minister added.

“One of the most important figures within this debt is that our external debt overall stands at approximately 6.3% of GDP. This is one of the best indicators, and if we compare it with last year, as of May 1 this year our external debt had decreased by around another 8%. From the standpoint of this parameter, Azerbaijan’s stable indicators today are unquestionably exemplary,” the finance minister emphasized.