Finance minister: Share of external public debt drops to 82%

The share of external public debt has been reduced to 82% in accordance with the Strategy for managing the public debt of Azerbaijan for the medium and long term, approved by the order of President Ilham Aliyev dated August 24, 2018, Finance Minister Samir Sharifov said at a meeting chaired by President Ilham Aliyev, dedicated to the results of the first quarter of this year, Report informs.

"Work continues to bring the ratio of external public debt to gross domestic product (GDP) to 10%. One of the important issues in this direction is the gradual reduction of total public debt, that is, public debt, consisting of external and domestic public debt, expressed in foreign currency, and an increase in the share of domestic public debt in the debt portfolio. At the time of the adoption of the Strategy, this figure was 94%, and now it has been reduced to 82%," the minister said.