By April 1 this year the Central Credit Register with the Central Bank of Azerbaijan Republic accumulated information on 9,483,441 credit histories that indicates a rapid growth of consumer loans (a year ago it was 6,523,015, and by January 1, 2013 – 4,249,977).
According to the CBA, to this date the CDC has information about 2,389,292 (52% of the working population) borrowers against the 1,952,996 last year. At the same time representatives of financial institutions that have access to the information in the first quarter of this year addressed to the Centre, asking for information 805,319 times. In total, until April 1, there were 853,284 requests (in the 1st quarter of last year there were 618,979 references).
Over the past year the registry received 3,243,077 requests (in 2013 there were 2,306,480). --17D-
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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