Azerbaijan continues to maintain a stable and resilient position in managing public debt, said Azer Mursagulov, Director of the Public Debt Management and Financial Obligations Agency under the Ministry of Finance, at the opening of the Germany–Azerbaijan Export Finance Conference 2025.
Mursagulov noted that many countries today face serious fiscal challenges due to rising debt levels, which threaten macroeconomic stability and limit growth potential.
“Last year, the global public debt exceeded $100 trillion, amounting to nearly 90 percent of global GDP. Even though interest rates are showing a downward trend, they remain high enough to increase debt servicing costs, reducing fiscal space for social programs and critical infrastructure investment,” he said.
Stay Ahead with Azerbaijan.usGet exclusive translations, top stories, and analysis — straight to your inbox.
According to Mursagulov, Azerbaijan’s total public debt as of the third quarter of 2025 stands at around 19.6 percent of GDP, one of the lowest ratios globally. Of this amount, 33 percent is external debt and 67 percent is domestic.
He attributed this fiscal strength to a strategic debt management framework introduced in 2018, which established clear limits and long-term sustainability goals for the country’s borrowing policy.
“This approach has enabled Azerbaijan to preserve macroeconomic stability and maintain strong fiscal discipline,” Mursagulov added.
