Azerbaijan, Baku, May 18 / Trend A.Akhundov /
The costs of servicing the public debt and obligations of the state in 2011 amounted to 343.8 million manat against the forecast of 346.8 million manat and were executed at 99.2 percent, the bill on the state budget of Azerbaijan in 2011 says. On Friday, a parliamentary committee on economic policy recommended it for consideration by the Parliament.
The costs of servicing foreign public debt and liabilities were executed at 98.8 percent and were at 223.6 million manat against the forecast of 226.3 million manat.
By January 1, 2012 Azerbaijan signed loan agreements with international and other financial organizations at $10.394.2 billion.
On loans used under these agreements, the total external debt of Azerbaijan is $4.816.7 billion. External debt stands at 7.6 percent of GDP, external debt per capita of the country is $521.6 dollars.
As of January 1, the currency composition of loans on external public debt is as follows: in the SDR (Special Drawing Rights) - 19 percent, euros - 30.3 percent, U.S. dollars - 35.9 percent, Japanese yen - 11.9 percent, the Islamic dinars - 1.3 per cent, Saudi riyals - 0.8 percent, the Kuwaiti dinar - 0.4 percent, Swiss francs - 0.2 per cent, UAE dirhams - 0.2 percent.
Some 3.8 percent of external debt must be repaid to creditors in a period from five to ten years, 56.4 per cent - from ten to 20 years, 39.8 per cent - during more than 20 years.
In 2011, $1.253.6 were used from the funds obtained. Mostly they were spent on investment projects, including construction of power plants, roads, sewer systems, water supply, irrigation, drainage and other works.
As of January 1, 2012 domestic debt of the state amounted to 2.056.8 billion manat. The cost of servicing domestic public debt and obligations of the state in 2011 amounted to 120.2 million manat against the forecast of 120.4 million manat and were executed at 99.8 percent.
During the reporting period upper limit on the internal and external public debt was observed.
The official exchange rate is 0.7858 AZN to $1 on May.
