Loan portfolio non-bank credit organization CJSC "Aqrarkredit" fell in January-November of this year at $ 381 million or 1.8% to $ 20.77 million in the reporting period, microcredit has increased by $ 1.58 million or 9.9%, to $ 17.6 million.
Assets of the company increased by $ 1.11 million, or 3.4%, to $ 34.05 million. The number of the company's customers has grown by 13% to 3,790 persons.
For all the time of the organization has issued loans worth 91.61 million manat, including 69.86 million manat of micro credit.
The share of bad loans in the total loan portfolio is 0.47%, and this share in the micro-crediting is 0.42%.
The authorized capital amounts to 18,535,424 manats. The sole shareholder is the State Property Committee. The organization provides individual, group and business loans ranging from 3 to 7 years. The amount of credits varies between $ 100 and $ 100 000. - 15B -
Economics
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Azerbaijan’s economy, which is heavily dependent on oil revenues, faces a stark warning in the 2021 report by Carbon Tracker titled “Beyond the Oil States: The Urgent Need to Reduce Dependence on Oil in the Context of the Energy Transition.” The report ranks Azerbaijan among the most vulnerable oil-dependent countries, placing it in the "5th group" — a category reserved for nations expected to experience a decline in oil and gas revenues exceeding 40% over the next decade. This group includes Angola, Bahrain, Timor-Leste, Equatorial Guinea, Oman, and South Sudan, highlighting shared economic risks for these states.
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Azerbaijan's non-oil and gas exports rose 3.5% year-on-year to $2.8 billion during the first ten months of 2024, the Center for Analysis of Economic Reforms and Communication (CAERC) reported in its November "Export Review."
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Azerbaijan Railways CJSC (ADY) will modify the schedules for commuter and domestic trains in line with the Cabinet of Ministers' decision to adjust work and rest days in November, aiming to ensure safe and comfortable travel during the COP29 event, the company announced.
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In Azerbaijan, the government has increasingly relied on tax exemptions for imported goods as a tool to stabilize domestic market prices. The exemption from the 18% VAT on wheat imports, extended this year, exemplifies this approach. New measures have also been introduced, including tax relief on imports of electric vehicle chargers, while exemptions for high-cost medications are currently under discussion. Notably, defense imports continue to be free from taxes and customs duties.
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