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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The State Oil Company of Azerbaijan (SOCAR) and Italy's Eni S.p.A. have signed a Memorandum of Understanding (MoU) focused on energy transition. Azerbaijani Economy Minister Mikail Jabbarov announced the agreement on his account on the social network "X".
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Azerbaijani Economy Minister Mikail Jabbarov met on July 29 with Ali Kibar, Chairman of Turkish conglomerate Kibar Holding, to discuss strengthening bilateral cooperation, boosting investment in industrial production, and supporting partnerships in the energy sector.
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The Cabinet of Ministers of the Republic of Azerbaijan has approved the application form specified in Article 30.1 of the Competition Code. This decision aims to align with the President’s decree No. 1051-VIQ dated December 2, 2023, and address regulatory requirements related to the implementation of the Competition Code.
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Azerbaijani President Ilham Aliyev has issued a decree amending the Land Code of the Republic of Azerbaijan, effective January 2025. The legislative adjustments aim to refine the management and use of agricultural land and enhance regulatory processes.
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