ECONOMY


President: I set a task for the government: we must reduce external public debt every year

Baku, October 17, AZERTAC

“Our external public debt is at a very low level – it accounts for only 17 percent of the gross domestic product. According to this indicator, we are in ninth place in the world. I should also note that some countries registering better results than ours are the countries that do not receive any external loans at all. Therefore, their high place does not reflect the objective picture. Thus, we are in a leading position in terms of the low level of the external debt on a global scale. I want to say again that I set this task for the government: we must reduce external public debt every year, and this is provided for in the budget for next year,” said President of Azerbaijan Ilham Aliyev as he addressed the meeting on economic area.

“The inflation rate is very low – a little more than 2 percent. It should be noted that a very serious and large-scale social package was implemented this year – the financial situation of more than 4.2 million people was improved, pensions, salaries and benefits were increased. In other words, billions of manats were spent on these purposes, and these funds were socially oriented. Despite this, the inflation rate is very low. This is a very good indicator. Incomes of the population significantly exceed inflation again,” the head of state said.

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