Azerbaijan has suspended the issuance of consumer loans for pensioners, on which the Financial Market Control House (FMCH) informed on 21 April.
This is reportedly associated with problem loans – the retired officially belong to the poor. By January 1, about 1.3 million pensioners received the average labor pension of 176.03 AZN and the average old-age pension of 196.08 AZN.
According to Turan’s experts, this is blatant discrimination of the entire social layer, because the banks themselves are to decide to issue a loan to the client or not. Among the retired there are quite solvent people. Moreover, in view of such a ban the opportunity of the elderly, especially single people, to receive credit for the restoration of their health or the solution of urgent domestic problems will be narrowed. --17D-
Economics
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Azerbaijan's economy demonstrated robust growth from January to November 2024, with gross domestic product (GDP) rising by 4.7% compared to the same period last year, according to government data. By September, GDP had reached 92.83 billion manats (approximately $54.7 billion USD), reflecting significant progress in diversifying beyond oil and gas, a longstanding focus of economic policy.
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A recent report by the World Bank titled “Breaking Barriers for Women’s Employment in Azerbaijan” sheds light on the significant gender imbalance in the country’s labor market. While both men and women participate actively in the labor force, disparities in employment rates, job quality, and societal attitudes highlight the challenges women continue to face.
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Azerbaijan's consumer price index rose by 4.4% in November 2024 compared to the same month in 2023, driven by higher costs for food, beverages, and services, government data showed on Tuesday.
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Kazakhstan has unveiled plans to develop five major cross-border trade and transport hubs to enhance connectivity and boost economic ties with neighboring countries, Trade and Integration Minister Arman Shakkaliev said on Monday during a government meeting.
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