The credit portfolio of non-bank credit organization CJSC Aqrarkredit expanded in January- September this year by $ 1.1 million or 5.3 % to $ 21.77 million. During the reporting period microcredit increased $ 2.19 million or 12.3 % to $ 19.95 million.
Assets of the company increased $ 640 thousand or 2.1 %, to $ 34.59 million and the customer base decreased to 9,646 thousand persons.
Totally the organization has issued loans worth 106.4 million manat, including 86.4 million manat of microcredit .
The share of problem loans in the total loan portfolio increased 1.21 percentage points to 1.69 %, and micro-credit - by 0.06 percentage points up to 0.48%.
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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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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