Foreign debt circa $2.6bn
Azerbaijan`s foreign debt amounts to $2.590 billion, exceeding $300
per capita, the Finance Ministry said.
However, the government believes the figure is not high, as it constitutes only 6.4% of the GDP. Moreover, the debt has decreased by $6 million compared to last year.
14.5% of the funds attracted from abroad was channeled into economic reforms in the first half of 2008. $376 million had been received by the International Monetary Fund and the World Bank for that purpose.
Most of the international loans - 85.5% or $2.2 billion - were directed to investment projects. 35.4% of the amount was channeled into the electric power sector, while 20.4% into road construction and transport. The rest of the funds were allocated for agriculture, the chemicals industry, the oil and gas sector, social security and other fields.
Only $137.9 million of the funds drawn from outside the country were spent in the first half-year.
However, the government believes the figure is not high, as it constitutes only 6.4% of the GDP. Moreover, the debt has decreased by $6 million compared to last year.
14.5% of the funds attracted from abroad was channeled into economic reforms in the first half of 2008. $376 million had been received by the International Monetary Fund and the World Bank for that purpose.
Most of the international loans - 85.5% or $2.2 billion - were directed to investment projects. 35.4% of the amount was channeled into the electric power sector, while 20.4% into road construction and transport. The rest of the funds were allocated for agriculture, the chemicals industry, the oil and gas sector, social security and other fields.
Only $137.9 million of the funds drawn from outside the country were spent in the first half-year.
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