Obligations of the banking system for loans borrowed from the Central Bank of Azerbaijan (CBA), expanded in June by 137.7 million or 6.4 percent to 2,273.4 million manat. For the one-year period, it increased by 288.7 million or 14.5%, since the beginning of the year - by 240.8 million or 11.8%.
According to the CBA, since last June centralized credits were issued at the rate of 5.25% per annum.
At the end of June, the Central Bank centralized resources were 50.1% of all funds raised by banks from the financial sector, and 18.1% of the total liabilities of the banking system.
It is noteworthy that, 4 years ago, on July 1, 2008, when the global financial crisis had only just begun to be felt in the country's banking system, the share of CBA loans came to only 100.9 million or 1.4% of the total liabilities of the banks. -15B-
Economics
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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
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A trilateral meeting of the foreign ministers, transport ministers, energy ministers, and heads of customs services of Russia, Iran, and Azerbaijan is set to take place soon to discuss the progress of the Rasht-Astara railway project, a key element of the International North-South Transport Corridor (INSTC). This was announced by Iran’s Ambassador to Russia, Kazem Jalali.
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Azerbaijan and Tatarstan continue to strengthen trade and economic cooperation, based on mutual interests in energy, mechanical engineering, petrochemicals, agriculture, and transport. Bilateral relations have shown steady growth, supported by regular visits of official delegations and participation in international economic forums.
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