9 Mar 2011 13:59

Azerbaijan's foreign debt up 13% in 2010

BAKU. March 9 (Interfax) - Azerbaijan's direct and guaranteed foreign debt as of January 1, 2011 came to $3.857 billion, the country's Finance Ministry said in a statement placed on its website.

It was earlier reported that the country's direct and guaranteed foreign debt stood at $3.422 billion as of January 1, 2010. Therefore, foreign debt increased by 12.7% throughout 2010.

The ministry said that direct and guaranteed foreign debt accounted for 7.42% of Azerbaijan's GDP in 2010, down from 7.95% of GDP for 2009.