The share of lending to the Central Bank of Azerbaijan in the active operations of commercial banks in the five months of this year decreased by 4.2%.
According to the CBA, as of June 1, bank loans amounted to 68.38% of the active operations against 71.55% in 2014.
The total loan portfolio of banks during this period decreased by 21% and amounted as of June 1 19,877,600,000 manats against 25,182,500,000 manats in 2014.
CBA has not warned about the danger of a lack of resources at the commercial banks to provide the Central Bank loans in the market. However, experts note the dependence of banks on central bank loans increases, so the problem with the pledge will inevitably lead to problems with access to funds and increased the cost of money. -0-
Economics
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Azerbaijan’s economic growth is expected to continue in the coming years, although forecasts from ING Group and the United Nations (UN) present slightly differing views on the pace of recovery. ING Group, the largest banking institution in the Netherlands, predicts modest growth in Azerbaijan’s gross domestic product (GDP), while the UN offers a more optimistic outlook.
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The average age of taxi cars in Azerbaijan has dropped from 15 to 7 years, according to a statement from the Azerbaijan Ground Transport Agency (AYNA), which attributes this change to the implementation of reforms.
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Kazakhstan has bolstered its position in international grain markets by resuming exports to Iran and Azerbaijan, according to the country’s Ministry of Agriculture.
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In recent years, Azerbaijan has quietly fostered a vibrant startup ecosystem that is beginning to make waves on the international stage. From digital education platforms to innovations in agrotechnology, these startups reflect the country's growing embrace of technology and entrepreneurship. A combination of government support, international collaboration, and bold entrepreneurial vision has propelled several Azerbaijani ventures into the global spotlight.
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