About 88% of debt of Azerbaijan's state-owned companies was foreign currency

As of September 1 of this year, state-guaranteed debt of state-owned companies amounted to 10.727 billion manats, according to the medium-term expenditure forecast for the next four years published by the Ministry of Finance, Report informs.

According to the document, this figure amounted to 8.3% of GDP.

Of this amount, 87.6% are state guarantees issued for loans raised in foreign currency ($5.526 billion), and 12.4% are state guarantees issued for loans raised in national currency (1.332 billion manats).

The volume of state-guaranteed debt in Azerbaijan decreased by 786.7 million manats compared to the same period last year.

($1=1.7 manats)