Azernews.Az

In an era of global economic uncertainty, Azerbaijan’s fiscal posture stands out for a reason that may surprise casual observers: its domestic debt now significantly exceeds its external debt. As of October 1, 2025, the country’s internal obligations reached 17.05 billion manat, while external debt stood at 4.89 billion U.S. dollars — roughly 8.3 billion manat at current exchange rates. This inversion of the traditional debt structure is not a red flag. On the contrary, it reflects a deliberate and prudent strategy that enhances Azerbaijan’s financial sovereignty, reduces exposure to currency volatility, and strengthens its domestic capital markets.

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