Credit investments of banks and non-bank credit organizations in Azerbaijan's economy by January 1 of this year were equal to 18 billion 542,600,000 manat (+ 20.2% yoy).
According to the Central Bank of Azerbaijan, the volume of overdue credit investments in this segment amounted to 976.3 million manat (+ 23.1%). In total, state-owned banks granted loans of 6 billion 143,800,000 manat (33.1% of all loans or + 15.9%), while most of the investments are in the private banking sector - 11 billion 873,600,000 manat (64% of all loans or + 22.5%). The remaining 2.9% are non-bank credit organizations.
Loans in national currency are 13 billion 505,600,000 manat (+ 22%) and loans in foreign currency are 5 billion 37 million manat (+ 15.9%).
In the structure of credit investments by banks in the first place are households - 7 billion 731,800,000 manat (44% of the total), the share of trade and services is 2 billion 680,700,000 manat (14.5%), construction and real estate - 2 billion 555,100,000 manat (13.8%), industry and the manufacturing sector - 2 billion 27.8 million manat (10.9%). The rest is minor - the sphere of energy and chemistry, as well as the natural resources sector was allocated 195.8 million manat (1.1%), agriculture and processing - 847.3 million manat (4.6%), transport and communication - 736 million manat (4%) .-- 17D-
Economics
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Azerbaijan and Iran are actively discussing the construction of a strategic railway line that will connect the East Zangezur Economic Region with the Nakhchivan Autonomous Republic, according to Rovshan Rustamov, Chairman of Azerbaijan Railways CJSC. Rustamov disclosed the details of these talks during his recent visit to Iran, where he met with Jabbar Ali Zakeri Sardrodi, head of the Iranian Railway Administration.
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Agricultural land in Azerbaijan's liberated territories may be leased to business entities through investment tenders. This is reflected in the draft law on proposed amendments and additions to the "Law on Land Lease." The document was discussed at the meeting of the Agrarian Policy Committee of the Milli Majlis (Parliament) on October 14.
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According to preliminary data released by the State Statistics Committee, as of October 1 of the current year, Azerbaijan's economically active population stood at 5.304 million people, of which 5.021 million were employed. These figures highlight the relatively stable labor market in Azerbaijan, as the same number appears in the data for the last three years.
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Azerbaijan witnessed a modest yet steady increase in nominal incomes in the first nine months of 2024, as incomes grew by 6.1% compared to the same period in 2023. This rise brings the total nominal income of the population to 61.587 billion manats, averaging 6039.2 manats per person. This is reported by the State Statistics Committee.
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