Azerbaijan’s finance ministry noted that the government will increase the cap on its public debt for 2022-2025 from 20 to 30% of GDP. The limit on external debt remained unchanged at USD 10 bln. The move aims to raise funds to expand the Southern Gas Corridor and finance the reconstruction of the national railway system to increase its transit capacity. As of July 1, total external public debt stood at USD 6.6 bln, with another USD 2.9 bln in domestic debt.