BAKU, Azerbaijan, December 29. The upper limit of the government debt-to-GDP ratio for Azerbaijan by 2029 has been set, Trend reports.
President of the Republic of Azerbaijan Ilham Aliyev signed the relevant decree.
According to the decree, for the end of the medium-term period (2029), the target upper limit for the consolidated budget's non-oil primary deficit to non-oil GDP ratio is set at 13%, while the target upper limit for the government debt to GDP ratio is set at 30%.
The Cabinet of Ministers of Azerbaijan should address the matters arising from this decree.
Previously, the target upper limit for the government debt to GDP ratio for the medium-term period was 20%.