Since the beginning of this year refinancing (cheap loans and loans to the private banking sector) has decreased by 1.5%. According to the report of the CBA, as of 1 August refinancing volumes reached 3 billion 102.6 million manat (January 1 - 3 billion 149,300,000 manat).
If the refinancing rate by the end of last year amounted to 4.25%, from September 1, it is 3.5%, which will encourage wealthy bankers to make money from the difference in interest. Recall up to 15 October 2008 the CBA discount rate was 15%, while today it is 3.5%. Meanwhile many private banks all the time give consumer loans under constant 25-35% per annum.
By the end of July 2014 refinancing by the CBA provided 18.21% of bank credit to the economy (17 billion 034 million manat). --17D-
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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