Total assets of Azerbaijani banks increased in July 199.8 million or 1.4% to 14,978.6 mln. Since the beginning of the banking assets grew by 7.4% and for the year by 1,701.6 million or 12.8%.
According to the Central Bank of Azerbaijan, credit investments on August 1 totaled 10,515.3 bn, a decrease in the reporting period by 0.4%. Over the past year, lending to the economy grew by 18.4%.
Deposits in banks in July increased 42.6 million or 1%, to 4,415.2 million manat. This indicator in 2012 grew by 7.2%, and for 12 months - 25%.
The aggregate capital of the banking sector increased in the reported period by 21.2 million or 1% reaching 2,130.6 million manat. During the year the figure rose by 108.8 million or 5.4%. - 15B -
Economics
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According to the State Customs Committee, in the first eleven months of this year, Azerbaijan transported 6.96 million tons of cargo by rail, worth $3.01 billion. This represents a 4% decrease in volume and a 10.1% decline in value compared to the same period in 2023.
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The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
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Azerbaijan's ambitious program to restore territories liberated from Armenian occupation has attracted attention due to the extensive use of single-source procurement methods, raising concerns about transparency and corruption.
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Azerbaijan recorded a 2% increase in wheat imports from January to November 2024 compared to the same period in 2023, underscoring its continued reliance on external sources to meet domestic demand. This growth comes amid a significant decline in domestic wheat production, which decreased by 148,100 tons in 2024, further intensifying the need for imported supplies.
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