The manat average rate on bank deposits of individuals in Azerbaijan as of 1 July was 9.01% (down 0.41% YTD). According to the Central Bank of the Republic of Azerbaijan, it complies with the Deposit Insurance Fund. On deposits in foreign currency, the average rate was at 9.5% (down 0.11% YTD).
For legal entities, the average rate of 1 July on deposits in manat was 5.7% (down 0.4%), in foreign currency - 3.69% (0.71%).
The average interest rate on loans in national currency in the first half of the year kept unchanged at 14.13%. For loans in foreign currency, the average rate is 14.89% (+ 0.5%). For legal entities, the average rate at the beginning of the current half-year on AZN loans was 10.89% (minus 0.63%) and in foreign currency - 10.53% (minus 0.23%).
The average interest rate on loans in manat for individuals by July 1, was 18.04% (0.39%) and in foreign currency - 21.43% (0.69%). --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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