Azerbaijan to guarantee borrowing up to $0.6B next year

The upper limit of the state-guaranteed debts in Azerbaijan is planned to be 1 billion manats ($0.59 billion) in 2023, Minister of Finance Samir Sharifov said at the joint meeting of the parliamentary committees on Law Policy and State-Building, Defense, Security, and Counter-Corruption, Human Rights, and International and Inter-Parliamentary Relations, Qazet.az reports.

"In general, the upper limit of foreign borrowing is planned to be 1.3 billion manats ($0.76 billion)," Sharifov added.

Moreover, according to the minister, revenues are expected to cover 92.2% of expenses in the next year's state budget: "The remaining part is considered a deficit. 100 million manats ($58.82 million) of this amount are planned to be covered by revenues from the privatization of state property, and 2 billion manats ($1.18 billion) by internal borrowing and the state treasury."