TODAY.AZ / Business

Azerbaijan’s arrears to reach $1.6bn in 2005

29 July 2005 [09:18] - TODAY.AZ
Azerbaijan’s public arrears will comprise approximately 15% of the GDP late 2005. Azerbaijan will not borrow big funds in 2005, the Cabinet of Ministers told Trend.
“The construction of the gas steam device in Sumgayit (total value -$300m) will be the only project the major funds will be spent on. Around $100m is expected to spend in this respect. The expenses on the rest projects will be low.

Thus, Azerbaijan’s public debt can comprise about $1.6bn - $1.7bn. So, the state debt will be equal to 15% of the GDP,” the Cabinet of Ministers said.

URL: http://www.today.az/news/business/20216.html

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