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Debt of private sector in Azerbaijan exceeds 7 billion dollars

This is higher than the national debt at the beginning of the year

Baku. 21 May. REPORT.AZ/ Total debt of the private sector in Azerbaijan on involved financial funds approximately makes 7.014 billion USD.

According to analyst group of the Report News Agency, now this number amounts to 7,013,755,151 dollars. Of these, 10% (772.3 mln. AZN) is in the national currency. The portion remained in foreign currency (6 277.2 million USD) accounted for by borrowed funds. This doesn't include debt liabilities.

According to the Ministry of Finance, on January 1, 2015 Azerbaijan's foreign debt amounted to 6 478.2 million USD, the ratio of external debt to GDP was equal to 8.6%. On the foreign exchange, component of foreign debt in SDR (Special Drawing Rights) was 9.9%, USD - 64.8%, the euro - 21.4%, Japanese yen - 2.1%, Islamic dinar - 0.7% Dirham UAE - 0.5%, the Saudi Riyal - 0.4%, the Kuwaiti dinar - 0.2%.

Funds attracted by the World Bank, the Asian Development Bank, Islamic Development Bank, the European Bank for Reconstruction and Development, the International Cooperation Agency of Japan and other international financial institutions were spent to support economic reform programs, rehabilitation and reconstruction of infrastructure, as well as the construction of roads, improvement of water supply regions, improving the quality of rail transport, industry and other fields.

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