As of January 1 of the current year, the domestic state debt of the Republic of Azerbaijan stood at 17,804.5 million manats. According to the Ministry of Finance, 9,006.6 million manats of this total consisted of government securities in circulation, while 8,797.9 million manats represented state-guaranteed obligations undertaken by the government.
The Operative Information Center-OMM, citing the Ministry of Finance, reported that the maturity structure of government securities has also been disclosed. Specifically, 9.2 percent of securities in circulation were for a 1-year term, 51.8 percent were for 2 and 3-year terms, and 39 percent were for 5 years or longer. It was noted that the transition from short-term government bonds to those with maturities of 5–10 years has significantly increased the Average Time to Maturity (ATM), which now stands at 3.3 years.
The Ministry stated that these measures are being implemented in accordance with the "Strategy for Medium and Long-term State Debt Management." The strategy aims to stimulate the development of the domestic financial market and gradually replace external state debt with domestic borrowing. As a result of this policy, the volume of government securities in circulation has increased approximately 8.5 times compared to 2018. This strategic shift is designed to strengthen the local capital market and enhance the fiscal resilience of Azerbaijan against global economic fluctuations.
