16:19 - 28.11.2024

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November 28, Fineko/abc.az. As of October 1, 2024, Azerbaijan's public debt amounted to 26.2 billion manats or 21.6% of GDP projected for 2024.

ABC.AZ reports with reference to the Ministry of Finance that compared with the data on October 1, 2023, the national debt of Azerbaijan increased by 52.3%.

In the structure of the national debt, 9.008 billion manats ($5.299 billion) or 7.4% of GDP accounted for external debt, and 17.19 billion manats or 14.2% of GDP accounted for domestic debt.

External debt decreased by 18.9%, while domestic debt, on the contrary, grew 2.8-fold.

"The significant growth of the domestic public debt corresponds to the goals of the medium- and long-term strategy of public debt management. In particular, growth of domestic debt is aimed at supporting development of the government securities market, formation of a curve for medium- and long-term government debt yields, as well as gradual replacement of external debt at the expense of domestic debt," the Ministry stressed.