OREANDA-NEWS. September 03, 2009. Country’s foreign debt guaranteed by the government by 1st July 2009 increased to 9.1% of GDP from the index of 2008 (6.4% of GDP).

The Azerbaijani Ministry of Finance reports that overall foreign debt increased from USD 3,001.1 million for 2008 to USD 3,071.8 million and from USD 344.9 to USD 350.9 per capita.

Major portion (89.1%) of the debt composes USD 2.738 bn of borrowing for investment projects versus USD 2,656.2 million in 2008.

Of them USD 1,205.4 million (39.2% of the total debt sum) fell on the share of power sector, USD 705.8 million (23%) on highway construction and transport, USD 113.1 million (3.7%) on agriculture, USD 162.4 million (5.3%) on social sector, USD 193.4 million (6.3%) on oil and gas sector, USD 276.8 million  (9%)  on water supply and melioration and USD 81.2  million (2.6%) on other spheres,” it was informed.

The rest borrowing directed for economic reforms reduced from USD 344.9 million to USD 333.6 million (10.9%), including USD 69.9 million (2.3%) to the International Monetary Fund (IMF) and USD 263.7 million (8.6%) to the World Bank (WB).

Let’s note, on 1st July 2009, the total debt of the country on  signed and raised funds made USD 7,179.4 million and 21.3% of GDP. Debt per capita was equal to USD 820.2.