The Central Bank of Azerbaijan reports decrease in household lending by 17.6%. The amount of loan was reduced to 1,471,700 manat, and reached 6 911.9 million, manat.
For the construction and purchase of housing, including mortgage, were spent 1,588,400 manat of loans. The volume of these loans for housing increased by 46 million manat ,or 2.98%. Compared with the reporting period of 2015 housing loans grew by 16.5% or 225.0 million manat. The share of household lending in the total volume of lending to the economy amounts to 37.5% over the six months.- 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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