Azerbaijan’s arrears to reach $1.6bn in 2005

“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.