Azerbaijan’s Finance Ministry: No plans to issue Eurobonds in medium term

Azerbaijan’s Ministry of Finance doesn’t envisage issuing Eurobonds in the medium term, the head of the department for public relations and work with citizens’ appeals of the ministry, Mais Piriyev, told Report.

Regarding instruments for internal borrowing, the ministry representative noted that government bonds are currently issued on the domestic financial market with maturities of 1 year, 2 years, 3 years, 5 years and 7 years: “Next year it is also planned to carry out internal borrowing for account of similar instruments."

President Ilham Aliyev signed a decree establishing upper limits for the ratio of the non-oil base deficit of the consolidated budget to the non-oil gross domestic product and the ratio of public debt to the gross domestic product for the medium term, as well as the upper limit of the non-oil base deficit of the consolidated budget at the end of 2024 by non-oil gross domestic product. According to the decree, the upper limit of the ratio of the non-oil base consolidated budget deficit to the non-oil gross domestic product for the medium term is set at 17.5%, and at the end of 2024 at 24%. The ratio of the upper limit of public debt to gross domestic product for the medium term is set at 30%.