Central Bank of Republic of Azerbaijan has published the report for January-September. According to the central controller, the total loan portfolio of the financiers of 1 October was 19 billion 113.5 million manats, of which 1 billion 353.8 million manats or 7.06% were problem (overdue and "hanging") loans.
In comparison with indicators of October 1 last year, the volume of troubled loans grew by 380.6 million manats, or 39.11%. If the result can be partially attributed to the devaluation of the February (minus 34.5% to the US dollar), the rest of the unreturned loans were motivated by reduction of capabilities of entrepreneurs and users of consumer loans. Thus, the volume of bad loans only for a month, September 1, increased by 20.2 million AZN (1.51%), which is the devaluation of indirect relevance.
According to the CBA, during the month investment in the economy in the form of loans decreased by 982.3 million manats or 4.89%. Central Bank justifies this by restructuring measures in the International Bank of Azerbaijan (IBA). --17D-
Economics
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The Turkish company Aksa Doğalgaz, part of Kazancı Holding, has announced the completion of the contractual process to purchase the gas distribution companies Bursagaz and Kayserigaz. These companies have been operating under SOCAR Türkiye Energy AS (STEAS) since 2019, according to Aksa Doğalgaz.
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Azerbaijan's Cabinet of Ministers has introduced new regulations establishing the minimum royalties for authors of state-commissioned films, aiming to promote creative works reflecting the country's national identity and cultural values.
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Tea imports to Azerbaijan have increased. According to the State Customs Committee, from January to November 2024, tea imports grew by 3.3% year-on-year to 12,893 tons in volume and by 4.5% in value, amounting to $67.715 million.
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Azerbaijan’s State Railways (ADY) reported a 28% year-on-year increase in transit cargo volumes through the North-South International Transport Corridor (NSTC) in 2024, reaching 814,000 tonnes. This growth underscores the country’s concerted efforts to unlock the strategic potential of the corridor, which connects Northern Europe and Russia to the Indian Ocean.
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