Azerbaijan External Public Debt increased by 5%

Baku. 17 November. REPORT.AZ/ As of October 1, year 2014, Azerbaijan’s external public debt made 6 380,7 million USA dollars ( 5 005,1 million manats), Azerbaijan External Public Debt/ GDP ratio is 8,5%. As a result, external public debt as of the beginning of this year, rose by 5,3%, Azerbaijan External Public Debt/ GDP ratio increased by 0,3%. Report informs referring information given by the Ministry of Finance of the Republic of Azerbaijan.

7.4% of credits were allocated for 10 years, 61.3% - for 10-20 years, 31.3% - for 20 years and more.

As of the report period, 10.4% of external debts are in SDR (Special Drawing Rights) 63,7% - in USA dollars, 21,7% - in Euro, 2,2% - in Japan yen, 0,8% - Islam dinar, 0,5%- Saudi riyal, 0,5%- UAE dirham, 0,2% - Kuwaiti dinar.

The funds borrowed mainly from World Bank (WB), Asian Development Bank (ADB), Islam Development Bank (IDB), European Bank of Reconstruction and Development (EBRD), Japan International Cooperation Agency and other international financial organizations were spent to support of economic reforms programs in Azerbaijan, restoration and restructuring of infrastructure, construction of power stations, road construction, improvement of water supply of the regions, aviation and railway transport services, industry and energy and other spheres.