Azerbaijan to borrow more than $1.5B in 2024

Azerbaijan will finance the projected deficit of 2.59 billion manats ($1.52 billion) of the state budget mainly through borrowing in 2024, Report informs, citing the Ministry of Finance.

According to the information, borrowing is planned for 1.85 billion manats ($1.08 billion), which will make up 71.6% of the deficit. In addition, it is planned to finance the deficit in the amount of 448 million manats ($263.19 million) at the expense of the balance of the single treasury account, 105 million manats ($61.7 million) at the expense of revenues from privatization, and 182.6 million manats ($107.28 million) at the expense of the funds of the Budget Fund for Road projects (within the closing of the deficit of that Fund).