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Foreign credits make 9.7% of GDP in Azerbaijan Jan-Sep

02 November 2006 15:48 (UTC +04:00)

The volume of foreign credits attracted to Azerbaijanâ€™s economy in January-September made $1 9157m, of which 9.7% of the Gross Domestic Product. Foreign debt per capita reached $225.8m, Finance Ministry told APA.
$394m (20.6%) of the credits were received for economic reforms (World Bank $255.6m (13.3%), IMF $138.4m (7.2%)).
Loans received for investment projects stood at $1 521.7m (79.4%), of which $730.3m for electricity sector, $132.5m for rural development and melioration, $297.5m for road and infrastructure, $35m for chemical industry, $27.8m for oil and gas sector, $38.1m for rehabilitation of the liberated lands, $142.9m for social sphere and $117.7m for other fields.
$301.5m was utilized during the nine-month period.
$97.8M was used for foreign debt service payment ($73.7m for capital repayment and AZN $24.1m for interest repayment). Membership dues amounted to $4.8m, of which $2.9m was paid to international socio-economic organizations, $1.9m to international financial organizations. /APA/