Banks and non-bank institutions, whether private or state-run, have reduced the level of their business lending.
According to the statistics of the Central Bank of Azerbaijan (CBA), by September 1 they invested in the local economy 16 billion 839.7 million AZN (net minus of 22.5% since the beginning of the year, without taking into account two-time drawdown of the manat as a result of last year's devaluation).
The share of overdue loans is 9.45% of the total loan portfolio, or 1 billion 592.9 million AZN (+ 5.6% YTD).
By September 1 state banks issued 5 billion 512.6 million AZN and private banks issued 10 billion 816 million AZN (both -22%), with a small proportion of non-bank credit organizations.
Issued in AZN was 8 billion 755.1 million manat (minus 20.4%), in a foreign currency – AZN 8 billion 84.5 million (minus 24.7%).
Traditional "champion" in lending was the household - 6 billion 272.7 million manats, with the share in the portfolio of 32.3% (minus 8% to the beginning of the year), that is, people that repay consumer credits do not take extra money, in contrast to previous years.
Next comes trade and services - 2 billion 504 million manats (14.9% of the total portfolio), construction and real estate - 2 billion 21.1 million manats (12%), industry and the manufacturing sector - 1 billion 321.4 million manats (7.8%), transport and communications - 1 billion 175.8 million manats (7%). Agriculture and processing was invested 400.7 million manats (2.4%), energy, chemistry and natural resources - 370.3 million manats (2.2%), etc. --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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