OREANDA-NEWS. May 25, 2010. Azerbaijan’s foreign debt guaranteed by the government grew up to equivalent of 8% of gross domestic product for Jan-Mar 2010 from 7.95% of GDP in 2009 and 6.4% of GDP in 2008.

The Ministry of Finance informs that this year overall foreign debt of Azerbaijan rose up to USD 3.4 bn (from USD 3.4 bn in 2009 and USD 3.001 bn in 2008) and to USD 381.3 per capita (from USD 380.3 and USD 344.9 respectively).

“Basis of the debt (90.88%) is borrowing under investment projects - USD 3.126 bn versus USD 3.9 bn and USD 2.656 bn respectively. Of this sum, USD 1.365 bn (39.69%) falls on power sector, USD 913.1 million (26.54%) on highway construction and transport, USD 307.98 million (8.95%) on watersupply and melioration, USD 198.9 million (5.78%) on oil and gas sector, USD 150.27 million (4.37%) on social area, USD 125.56 million (3.65%) on agriculture, USD 65.1 million (1.89%) on other sectors,” the MoF reported. USD

The balance on borrowing for economic reforms for the reported term reduced to USD 313.9 million (9.12%) from USD 326.9 million (9.55%) in 2009 and USD 344.9 million in 2008, including USD 57.5 million (1.67%) falling on the share of the International Monetary Fund (IMF) and USD 256.37 million (7.45%) on the World Bank.