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`Measures for normalization in banking sector may cause extra borrowing for state budget`
30 November 2016
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Normalization measures in banking sector may cause extra borrowing for state budget, Finance Minister Samir Sharifov said at the discussion of 2017 state budget at the joint meeting of the parliament’s Standing Commissions on Economic policy, Industry and Entrepreneurship, Natural Resources, Energy and Ecology Affairs, Defense, Security and Combating Corruption, Agrarian Policy, Public Unions and Religious Organizations.
“This may lead to increase of external and internal debt/GDP ratio. On the other hand, Azerbaijan’s participation in funding of large projects will lead to external borrowing. The matter is about the Southern Gas Corridor. Despite these debts are planned to be repaid through that project, state guarantees on the project will increase the external public debt”.
