Loan investments of banks and non-bank credit agencies (NBCA) in Azerbaijan's economy by May 1 totaled 16 billion 245.4 million (+ 5.3% compared to January 1).
According to the report of the Central Bank of the country, the volume of overdue credit investments in the first four months totaled 895.6 million (13%) or 5.5% of total loans.
Government financial institutions (regardless of the percentage share of government) gave borrowers 5 billion 534.4 million manat loans (4.4%) or 34.1% of total loans, private banks - 10 billion 241.2 million (5.7%) or 63% of total loans. Other loans befell NBCA.
In national currency, banks issued 11 billion 759.8 million manat of loans (+6.2%), in foreign currency - 4 billion 485.6 million (3.2% growth). In the structure of credit investments the first place was traditionally occupied by households - 6 billion 610.9 million (40.7% of total loans). The share of trade and services was 2 billion 322.4 million (14.3% of total loans), on energy, chemicals and natural resources - 259 million (1.6%), agriculture and processing - 750 5 million (4.6%). For the construction and real estate there was allocated 2 billion 127 million manats (13.1%), industry and manufacturing sector - 1 billion 908 million manats (11.7%), transport and communications - 586.3 million manat (3.6%), and the rest was other spheres. -17D-
Economics
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Azerbaijan’s economic growth is expected to continue in the coming years, although forecasts from ING Group and the United Nations (UN) present slightly differing views on the pace of recovery. ING Group, the largest banking institution in the Netherlands, predicts modest growth in Azerbaijan’s gross domestic product (GDP), while the UN offers a more optimistic outlook.
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The average age of taxi cars in Azerbaijan has dropped from 15 to 7 years, according to a statement from the Azerbaijan Ground Transport Agency (AYNA), which attributes this change to the implementation of reforms.
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Kazakhstan has bolstered its position in international grain markets by resuming exports to Iran and Azerbaijan, according to the country’s Ministry of Agriculture.
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In recent years, Azerbaijan has quietly fostered a vibrant startup ecosystem that is beginning to make waves on the international stage. From digital education platforms to innovations in agrotechnology, these startups reflect the country's growing embrace of technology and entrepreneurship. A combination of government support, international collaboration, and bold entrepreneurial vision has propelled several Azerbaijani ventures into the global spotlight.
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