Next year Azerbaijan to increase cost of servicing the public debts

1,250 bln manats were allocated for repayment of principal and interest in 2016

Baku. 15 September. REPORT.AZ/ Azerbaijan's state budget provided 1 249 7 mln manats for 2016 on the public debt service (principal and interest rates), which is by 473.5 or 61.0% more than in 2015.

Report informs referring to the draft state and consolidated budgets for 2016, the growth of these expenditures related to the revaluation of foreign currency denominated debt liabilities after adjustment (devaluation) of manats in the current year, as well as the completion of the debt maturity on a number of projects next year.

The draft states that in 2016, managing activities of internal and external public debt will continue, the timely implementation of the debt on loans, measures were taken to ensure the repayment of loans from organization's own funds. 

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