Azerbaijan's total external debt reaches $19 billion

Azerbaijan's total external debt reaches $19 billion International reserves of Azerbaijan 5 times higher than external debt
March 28, 2017 17:27
Azerbaijan's total external debt reaches $19 billion

Baku. 28 March. REPORT.AZ/ The volume of Azerbaijan's external public debt at the end of 2016 amounted to 6,913.2 million USD and on an annualized basis increased by $ 18.9 million or 0,27%.

Report informs, amount of external debt per capita for the past year decreased by 20.5 USD or 2.85% and amounted to 698.2 USD. The ratio of external debt to GDP reached a maximum of 11 years - 20.4%. Nevertheless, this ratio is much lower than the conventional standard in the world at level of 50%.

The graph below shows the indicators of Azerbaijan's external debt for 2005-2016:

In addition, it should be noted that by the end of 2016 an external debt of Azerbaijan's private and banking sector reached approximately $ 12 billion. As a result, the country's total external debt is approaching $ 19 billion, or 56% of GDP.

Azerbaijan observes some conditional international standards on external debt. Thus, the external debt accounted for 20.85% of international reserves in the country. In other words, international reserves almost 5 times exceed external debt.

The ratio of external debt to exports was 75% at the end of 2016, maximum allowable limit for this figure is 275%.

The ratio of exports to total external debt was 209%, in this case the minimum threshold is considered to be below 30%.

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