As of July 1, 2025, the public debt of the Republic of Azerbaijan - including both domestic and external obligations - amounted to 25 billion 695.6 million manats, or 19.6 percent of the projected Gross Domestic Product (GDP) of 130 billion 662.5 million manats for the year.
According to the Ministry of Finance, 8 billion 518.2 million manats ($5 billion 010.7 million), or 33.2 percent of the total public debt, is external debt, while 17 billion 177.4 million manats, or 66.8 percent, is domestic debt.
As of the same date, the external public debt stood at $5 billion 010.7 million, representing 6.5 percent of the projected GDP of 130 billion 662.5 million manats ($76 billion 860.3 million) for 2025. This marks a decrease of $119 million, or 2.4 percent, in absolute terms compared to the beginning of the year, taking into account fluctuations in foreign exchange rates.
The reduction in external public debt is attributed to the repayment of $237.1 million in principal obligations under existing credit agreements during the first half of 2025.
As of July 1, the ratio of external public debt to GDP declined by 0.4 percentage points compared to the beginning of the year.
At the reporting date, liabilities with variable interest rates accounted for 49.3 percent of Azerbaijan’s external public debt, while those with fixed rates made up the remaining 50.7 percent.
The composition of the external debt portfolio as of July 1, 2025, was as follows: 34.9 percent was owed to the Asian Development Bank, 27.7 percent was in Eurobonds, 14.7 percent to the World Bank, and 22.7 percent to other creditors.
