Azerbaijan sets new targeted upper limit for public debt-to-GDP ratio until 2029

Azerbaijani President Ilham Aliyev has signed a decree setting targeted upper limits for the ratio of the consolidated budget's non-oil primary deficit to non-oil gross domestic product (GDP) and the ratio of public debt to GDP by the end of the medium-term period in 2029, Report informs.

Under the decree, the respective targets have been set at 13 percent for the non-oil primary deficit to non-oil GDP and 30 percent for public debt to GDP. The document also introduces amendments to several previous presidential decrees in line with these changes. Previously, the targeted upper limit for the public debt-to-GDP ratio was set at 20 percent.