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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Azerbaijan's state oil and gas company, SOCAR, has signed a joint development agreement with Bulgaria’s "Asarel Energy," part of the Asarel Medet holding group. The agreement was signed on November 13 during the COP29 summit in the presence of the Presidents of Azerbaijan and Bulgaria, Ilham Aliyev and Rumen Radev.
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