"We estimate Azerbaijan's government debt reached 21.1% of GDP and approach 23.3% of GDP by 2026, one of the lowest among Fitch's investment-grade sovereigns," this was stated in the rating assessment of Azerbaijan by the international rating agency Fitch Ratings, APA-Economics reports.
"External debt has declined in absolute terms in recent years, currency composition has improved and about two-thirds of external debt is to official creditors. External government guarantees and on-lending declined to USD5.6billion (7.6% of 2024 estimated GDP), from USD6.4 billion in 2022, with 77% of these related to the Southern Gas Corridor project, which is profitable and not likely to require sovereign support," the report emphasized.
