The share of lending to the Central Bank of Azerbaijan in the active operations of commercial banks in the five months of this year decreased by 4.2%.
According to the CBA, as of June 1, bank loans amounted to 68.38% of the active operations against 71.55% in 2014.
The total loan portfolio of banks during this period decreased by 21% and amounted as of June 1 19,877,600,000 manats against 25,182,500,000 manats in 2014.
CBA has not warned about the danger of a lack of resources at the commercial banks to provide the Central Bank loans in the market. However, experts note the dependence of banks on central bank loans increases, so the problem with the pledge will inevitably lead to problems with access to funds and increased the cost of money. -0-
Economics
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The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas projects in the Mediterranean, SOCAR said in a statement on Wednesday.projects in the Mediterranean, SOCAR said in a statement on Wednesday.
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On January 30, Azerbaijani President Ilham Aliyev has signed a decree approving the State Program for the Improvement of Transport Infrastructure in Baku and Surrounding Areas for 2025-2030, aiming to modernize the capital’s urban mobility and reduce congestion, the presidential press service said on Tuesday.
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Goldman Sachs has revised its oil price forecasts, raising its projections for Brent and Azeri Light crude by $2 per barrel for both 2025 and 2026, setting the estimate at $78 per barrel. The adjustment reflects expectations of tighter supply conditions driven by geopolitical risks, including U.S. sanctions affecting Russian oil production and potential future restrictions on Iranian crude exports.
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Azerbaijan Railways (AZD) has launched rail transit shipments from Zira Port, located 45 kilometers east of Baku, strengthening the country's position as a logistics hub on the Middle Corridor.
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