Azerbaijan's public debt rises 2% to $16 bln in 2024

BAKU. Jan 28 (Interfax) - Azerbaijan's public debt as of January 1, 2025 was an estimated 27.432 billion manat or $16.136 billion at the current rate, the Finance Ministry said.

The debt rose 2% from 26.884 billion manat at the start of 2024.

The debt was 21.7% of GDP on January 1, 2025, down slightly from 21.9% a year previously.

External debt fell 20% or $1.301 billion to $5.16 billion or 8.772 billion manat and 6.9% of GDP.

Domestic debt was 18.66 billion manat or 14.8% of GDP and rose 17.6% or by 2.794 billion manat during the year.

The budget allocated 1.296 billion manat to service public debt in 2024, including 1.125 billion manat for external debt and 170 million manat for domestic debt.

The Finance Ministry forecast public debt at 28.175 billion manat or $16.57 billion at end-2024. The debt could reach 30 billion manat or $17.64 billion at the current rate and 23% of GDP in 2025.