The loan portfolio of the local commercial banks as part of the financing of real estate by May 1, according to the Central Bank, was at the level of 1 billion 338 million manats (+ 9.8% YTD). Mortgage loans issued since the beginning of the year have amounted to 34.9 million manats.
Lending deals with the construction and purchase of real estate accounted for 6.5% of the total loan portfolio of banks.
In general, banks invested 2,814.1 million AZN in the construction and housing sector from January 2005 to May 1, 2015, which is 13.7% of all bank deposits. --17D-
Economics
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A high-level event titled “Trio of COP Presidencies Dialogue: Roadmap for Mission 1.5 towards a Future of Shared Prosperity” was held within the framework of the 29th session of the United Nations Climate Change Conference (COP29).
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The State Oil Company of the Azerbaijan Republic (SOCAR) and Slovakia's largest gas operator, Slovenský Plynárenský Priemysel (SPP), have signed a short-term pilot contract for the supply of natural gas, according to sources in Slovakia.
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In recent months, an increase in the price of butter has been observed in Azerbaijan. Notably, this is the third price hike within a year. According to consumers, certain brands of butter that cost 19 manats per kilogram at the end of last year are now being sold for 24 manats, marking a nearly 30% increase.
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Azerbaijan has signed an "Agreement on Project Implementation" with China’s BYD Company Limited (BYD) to establish a domestic production line for electric buses, officials announced.
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