Azerbaijan increases foreign borrowing limit in 2018

Baku. 1 December. REPORT.AZ/ Preliminary forecast on limit of foreign state borrowing for 2018 has been changed in Azerbaijan.

Report informs, Finance minister Samir Sharifov said.

"The maximum foreign borrowing rate for attracting loans to the country's economy is about 4.5 bln AZN this year. However, for some reason, negotiations with international financial institutions have lasted longer than expected, and so far, it has been impossible to sign loan agreements. As a result, 1.15 bn. AZN less is expected to be used. Taking into account the priority of these projects for the country, it was proposed to increase unused borrowing limit of 1.15 bln AZN residual increase it to 2,15 bln AZN for 2018”, minister said.