“at one time, I set the task that we should treat loans with great care. At the same time, there were state-owned companies that were scolded and without permission took various loans.” This was stated by the President of Azerbaijan Ilham Aliyev on April 12 at a meeting dedicated to the results of the first quarter of this year.
“When they could not return loans, the payments were shifted to the state. The extremely opaque situation reigned. This is the end. Now no state structure can get a credit manat without a government permission.
Each made loan is also approved by the government, and we must attract loans only on important projects, projects with high-tech components, as well as projects implemented on liberated lands. There is no need to provide loans to other projects. That is why we reduced the external public debt, both in absolute figures and in relation to GDP, “the president said.