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 President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
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The Italian government has extended the deadline for applications in the international tender for the sale of several strategic assets until February 14, confirming that a bidder from Azerbaijan remains among the frontrunners.
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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