Azerbaijan borrows over half billion in 2022

Azerbaijan's domestic and foreign borrowing amounted to 976.3 million manats ($574.3 million) in 2022, up 75.1% from the previous year, Report informs, citing the Finance Ministry.

The borrowing aimed at the elimination of a part of the budget deficit. The gap of 1,402.8 million manats ($0.83 billion) was compensated by foreign loans (259.7 million manats or $152.76 million), privatization of state property (115.4 million manats or $67.88 million), and residual funds of the single treasury account of the state budget (51.4 million manats or $30.24 million).