Azerbaijan Mortgage Fund (AMF) in January this year allocated 4.2 million manat (+800,000 or +23.5% from the previous year) to banks - agents under a special lending.
In addition, as stated in the report of the Central Bank (CBA), the AMF in January refinanced loans worth 5 million manat. In the same month, it placed bonds worth 3 million manat.
Mortgage Fund in March 2006 began to issue loans. Issuance of social mortgage in Azerbaijan began in 2007 and lasted for 6 months.
Mortgage loans on commercial terms are given in manat and only to Azerbaijani citizens. Loans are granted for a term of 3 to 25 years, the maximum loan must not exceed 50 thousand manat, and a loan is granted at a rate of no more than 8% per annum.
Funded from the state budget is only social mortgage. Its maximum size is 50 thousand manat at a rate not more than 4% per annum.
In 2014 banks - agents of AMF issued loans amounting to 97.1 million manat, which is 14% less than the record (110,700,000. Manat) index of 2013. --17D-
Economics
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Azerbaijan’s State Tax Service is grappling with technical issues on its online portal, e-taxes.gov.az, preventing the submission of mandatory social insurance and health insurance tax declarations. The problem has emerged at a critical time, as the 20-day quarterly period for submitting declarations began on October 1.
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The INMerge Innovation Summit, organized by PASHA Holding, continued in Baku on Friday. The summit brought together leading industry leaders, startups, and investors in the fields of fintech, e-commerce, artificial intelligence, and digital business.
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The Cabinet of Ministers of the Republic of Azerbaijan has approved a new regulation titled “Procedure for the Transfer of Regulatory Functions and Duties for Flight Safety Supervision,” aligning with the country’s obligations under international civil aviation agreements.
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In September 2024, Azerbaijan experienced a noticeable increase in the Consumer Price Index (CPI), reflecting broader economic trends and the impact of various factors on the market. The CPI, a critical indicator of inflation, rose by 3.5% compared to the same month in 2023. This growth was driven by several components, including food and non-food products, as well as paid services provided to the population.
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