As of January 1, 2026, Azerbaijan's total state debt (external and internal) reached 25,987.5 million manats, equivalent to 20.1% of the actual GDP for 2025.
According to Oxu.Az, these figures are reflected in the draft law on the execution of the 2025 state budget of the Republic of Azerbaijan.
Of the total debt, 31.5% is external and 68.5% is internal. Excluding liabilities of Agrarkredit OJSC (8797.9 million manats), the share of external debt would be 47.6%, and internal debt 52.4%.
