Moody’s expects further growth in Azerbaijan State Oil Fund's assets

The assessment was included in the international credit rating agency’s periodic review of Azerbaijan’s sovereign credit ratings, local media reported.

According to Moody’s, the country’s relatively narrow state budget deficit is expected to keep the government’s debt burden well contained, remaining below 30% of gross domestic product (GDP), in line with the targets set out in the latest medium-term fiscal framework. The agency noted that this level is significantly lower than the median for countries with similar credit ratings.

Moody’s said this reflects the government’s strong financial position and the continued preservation of fiscal buffers accumulated through SOFAZ.