Azerbaijan's govt debt expected to top 20% of GDP by 2031 - Finance Ministry

BAKU. Oct 16 (Interfax) - Azerbaijan's government debt will reach AZN35.4 billion ($20.8 billion at current exchange rate), or 20.4% of GDP by 2031, a document on medium-term budget spending for 2027-2030 published by the Finance Ministry showed.

The ministry estimates that Azerbaijan's government debt will total AZN27 billion or 19.5% of GDP at the end of 2026, so it is expected to grow by 31.1% in 2027-2030.

The ministry attributes the growth of the government debt in the medium term to the government borrowing from international financial institutions to implement water supply and transport projects.

Azerbaijan's government debt shrank by 8.3% to AZN23.83 billion in the first half of 2026.

The official exchange rate for October 16 is AZN1.7/$1.