AMF assets closer to half a million mark
Azerbaijan Mortgage Fund (AMF) under the Central Bank raised a profit from 3,416,853 manat in 2012 to 4,015,624 manat last year.
This is one of the main points of the Fund's reporting for the last financial cycle. The AMF net interest income rose from 6,290,220 to 7,602,740 manat, and the operating income - from 6.11 million to 7.45 million manat.
As a result, the fund's assets amounted to 492.64 million manat, and the capital – to 191.16 million. Manats.
According to the Fund, in January-April this year, credit institutions authorized by AMF issued 40 million manat for mortgage loans - exactly as provided by the Ministry of Finance for social mortgage (up to 50,000 at 4% per annum). The size of mortgage for other categories of citizens is not limited; everyone may receive up to 50,000 manat provided 20-50% down payment (depending on the bank) and 8% per annum. - 17D-
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- Economics
- 30 July 2014 15:09
Economics
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Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
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The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
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"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
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