Households Lead in Bank Infusions
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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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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