Azerbaijan’s per capita foreign debt grow 13%, drop 1.3% in GDP ratio

Azerbaijan’s per capita foreign debt grow 13%, drop 1.3% in GDP ratio
# 07 November 2008 10:01 (UTC +04:00)
The Ministry of Finance said per capita foreign debt stood at $324.3, up 12.5% on early this year.
The foreign loan debt to gross domestic product (GDP) ratio reached 6.9%, down 1.3 percentage point on nine months ago.
The ministry said the government-secured loans for economic reforms (2.9% from IMF and 10.8% from the World Bank) totaled $350.2 million (12.5% of total loans borrowed) and loans for investment projects made AZN 2 448.3 million, including 39.5% for electricity generation sector, 7.8% for rural development and melioration, 20.9% for roads and infrastructure, 1.4% for chemical industry, 5.8% for oil and gas sector, 192.9% for rehabilitation of lands liberated from Armenian occupation, 6.9% for social activities and 3.2% for other needs.
Over the period of January-September, $477.6 million of the loans were utilized.
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