In the state budget of 2023, expenses in the amount of 1,005.0 million manats related to the service of the state debt and obligations are provided.
Publika.az reports that this was reported by the Ministry of Finance of Azerbaijan.
According to information, in accordance with the payment schedule of the state debt in January-March of the current year, 27.1 million manats were paid for the domestic state debt (interest debt), 170.8 million manats for the foreign state debt (31.1 million manats for the principal debt, interest 139.6 million manats on debt, payment of bank services fee 0.1 million manats), a total of 198.0 million manats (31.1 million manats on principal debt, 166.7 million manats on interest debt, payment of bank services fee 0, 1 million manat) payment was ensured. This is 150.9 million manat less than the corresponding period of 2022.
According to the data provided on the use of funds within the projects implemented through foreign borrowing, the level of direct foreign debt decreased by 13.5 million US dollars compared to the beginning of the year and amounted to 6,679.7 million US dollars as of April 1, 2023.
Implementation of purposeful borrowing policy in the direction of increasing the volume of internal state borrowing, supporting the development of the state securities market, forming the medium and long-term yield curve of the state debt, and replacing foreign debt with domestic debt in accordance with the “Medium and Long-Term Strategy for State Debt Management in the Republic of Azerbaijan” As a result, the level of direct domestic government debt increased by 180.5 million manats in absolute terms compared to the end of 2022 and amounted to 4368.7 million manats as of April 1, 2023.
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