Parliaments should keep the control of public debt, which is a crucial issue under focus in order to achieve the Sustainable Development Goals, said member of the Milli Majlis (Azerbaijani Parliament) Soltan Mammadov during his speech at the parliamentary hearings on 'Scaling up Action for the Sustainable Development Goals: Finance, Institutions and Politics' held at the UN Headquarters, a joint initiative of the Inter-Parliamentary Union and the President of the UN General Assembly, APA reports.
Soltan Mammadov noted that Azerbaijan's external public debt constitutes 6.9% of the country's GDP: "Compared to previous years, external public debt has decreased by 20.1%. This is also one of the best indicators among world countries."
The MP emphasized that a number of measures have been taken in Azerbaijan to maintain macroeconomic stability and keep prices low and stable in order to pay both domestic and foreign debts. The institutional base for debt management has been improved, and the efficient functioning of financial markets has been ensured.
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