Credit portfolio of non-bank credit organization CJSC Aqrarkredit increased in January- August this year by $ 614 million or 3% to $ 21.31 million. During the reporting period the micro credit increased $ 1.6 million or 2.9 % to $ 19.362 million.
Assets of the company increased by $ 1.56 million, or 4.6 % to $ 35.51 million and the customer base decreased to 10,299 persons.
Totally the organization has issued loans worth 105.2 million manat, including 82.47 million manat of micro credits.
The share of problem loans in the total loan portfolio increased 1.23 percentage points to 1.71 %, and in the micro credit - by 0.05 percentage points to 0.47 %.
At present, the authorized capital of the company amounts to 18,535,424 manats. The only shareholder is the State Property Committee. The organization provides individual, group and business loans for a period of 3 to 7 years. The loan amount varies between $ 100 and $ 100 000. - 15B-
Economics
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As 2024 comes to a close, Azerbaijan finds itself at a crossroads—holding a prominent position in certain sectors of the global economy but still grappling with issues that hinder broader socioeconomic development. From energy exports to logistics corridors, the country has carved out a niche, yet cracks in its socioeconomic fabric are becoming harder to ignore. Let’s delve into the numbers and listen to expert opinions on Azerbaijan's global standing.
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Azerbaijan began the new year with significant hikes in gas, electricity, water, and medication tariffs, sparking widespread concern among citizens over the financial burden on households. While officials defend the measures as necessary for economic sustainability, critics warn of challenges tied to stagnant wages and pensions.
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As of January 1, Europe has ceased contract-based transit of Russian gas through Ukraine. Kyiv announced it would not renew agreements to traffic gas from the "aggressor nation" through its territory. The decision marks a pivotal moment in Europe’s efforts to reduce reliance on Russian energy, a dependency that supplied nearly 50% of the continent’s gas imports before the war in Ukraine.
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Azerbaijan's Tariff Council has approved a decision to regulate the maximum wholesale and retail prices of registered medicines, with the new pricing caps coming into effect on January 2, 2025.
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