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 European Commission views Azerbaijan's increasing gas supplies to Europe as a highly beneficial alternative source for ensuring the EU's energy security, said European Union Energy Commissioner Kadri Simson in an exclusive interview with Turan during her visit to COP29 in Baku.
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The State Oil Company of Azerbaijan (SOCAR), which joined the global Oil and Gas Methane Partnership 2.0 (OGMP 2.0) earlier this year, hosted a forum on November 15 within the "Green Zone" of COP29. The event, titled "OGMP 2.0 Leadership Forum," brought together key stakeholders to discuss progress and prospects for methane emissions reduction in the oil and gas industry.
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