Lending to real estate transactions in January-August this year increased by 18%.
According to the report of the Central Bank of AR, September 1, the aforesaid loan portfolio of local commercial banks (including mortgages) is 1 billion 52.7 million manat (January 1 - 890,800,000 manat). The greatest growth occurred in August (+5.3%).
In general, lending transactions with the construction and purchase of real estate accounts for 6.1% of the total loan portfolio (0.3% as of 1 January of this year). --17D-
Economics
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During a working visit to the United Arab Emirates, Azerbaijani President Ilham Aliyev met with UAE President Sheikh Mohammed bin Zayed Al Nahyan on January 13, 2025, in Abu Dhabi. The meeting underscored the strengthening of bilateral relations between the two countries, with a special emphasis on energy cooperation, climate change efforts, and mutual investments.
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Azerbaijan's Consumer Price Index (CPI) in December 2024 marked a year-on-year increase of 4.9%, with food and beverage inflation leading the surge, according to data from the State Statistics Committee. The overall CPI stood at 104.9%, driven by a 5.5% rise in food products, beverages, and tobacco, 2.4% in non-food products, and a sharp 6.3% hike in paid services provided to the population.
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In 2024, Azerbaijan produced 29.1 million tonnes of oil together with condensate, down from 30.2 million tonnes in 2023, according to preliminary information published by the country’s Ministry of Energy.
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Azerbaijan’s inflation rate in 2024 remained relatively stable, averaging 2.2% for the year, according to data from the State Statistics Committee. While this marks a period of subdued price growth compared to global trends, the numbers reveal nuanced dynamics across sectors and reflect both domestic policy measures and external influences.
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