Non-bank credit organization «FINCA Azerbaijan» the first in the financial market has made changes in lending policies. From today, new customers started receiving microcredit not only in dollars but also in manats – 50/50.
Maximum amount of small loans granted by this structure is the equivalent of 25,000 manats. On average weight of manat credit exceeds the amount of foreign currency - 70 to 30%.
The FINCA noted that the February devaluation of the manat impacted the the solvency of borrowers, because it was decided to make a more flexible credit policy aimed at debt restructuring. --17D-
Economics
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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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Azerbaijan Railways CJSC (AZD) transported 713,699 passengers in January 2025, marking a 15% increase compared to the same period last year, the company said on Tuesday.
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Last week, Azerbaijani media reported an impending increase in retail bread prices, attributing the rise to an increase in product weight. The following day, an official notification confirmed that the government had no intentions of sanctioning a bread price hike in the country. However, the threat of a price increase for this staple food remains for another reason.
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