As of January 1 of the current year, the state-guaranteed debt of the Republic of Azerbaijan stood at 10,368.4 million manats, accounting for 8 percent of the country's Gross Domestic Product (GDP). According to the Ministry of Finance, the vast majority of these obligations are linked to external liabilities.
The Operative Information Center-OMM, citing the Ministry of Finance, reports that 8,725.4 million manats (approximately 5,132.6 million US dollars), or 84.2 percent of the state-guaranteed debt, consists of external loans. Meanwhile, 1,643 million manats, or 15.8 percent, is attributed to domestic credit obligations. Regarding interest rate structures, 59.8 percent of the portfolio is based on fixed rates, while 40.2 percent is subject to floating rates.
The currency composition of the debt shows that 63.9 percent is denominated in US dollars, 17.7 percent in euros, 12.8 percent in Azerbaijani manats, 3.7 percent in Japanese yen, and 1.9 percent in other currencies. In terms of maturity, the Ministry of Finance noted that 73.9 percent of the debt must be repaid within 5 years, 16.6 percent within 5 to 10 years, and 9.5 percent over a period exceeding 10 years.
The management of state debt in Azerbaijan is governed by the "Strategy for State Debt Management for the Medium and Long Term," which aims to maintain debt at sustainable levels while supporting economic growth. By keeping the state-guaranteed debt at a relatively low percentage of GDP, Azerbaijan continues to demonstrate fiscal discipline and a robust sovereign credit profile, which is essential for attracting international investment and ensuring long-term financial stability in the South Caucasus region.
