As of August 1 of this year, Azerbaijan's external public debt amounted to 4 billion 590.8 million US dollars. The Operative Information Center-OMM reported this figure, citing data from the State Statistical Committee.
According to the official statistics, this represents a 7.5% decrease compared to the same period last year. Furthermore, the country's external public debt saw a reduction of 26 million US dollars during the month of July alone. Last year, the external public debt fell by 6.7%, reaching 4 billion 813.5 million US dollars (equivalent to 8 billion 183 million manats).
The reduction in external debt is a significant indicator of Azerbaijan's ongoing fiscal consolidation efforts. By prioritizing the repayment of international loans and managing state obligations more efficiently, the government aims to strengthen its macroeconomic stability and reduce reliance on foreign financing. This trend aligns with the broader economic strategy of the Republic of Azerbaijan to maintain a sustainable debt-to-GDP ratio, ensuring long-term financial resilience amidst global economic fluctuations.
