On August 1, the average lending rate of local commercial banks was 4.1 times higher than the discount rate of the Central Bank (+17.6% against July 30 and before, by the 1st of May of this year).
The report of CBA said that on July 30 the upper limit of the discount rate was reduced from 4.25 to 3.5%. In January - July, the average lending rate of private commercial banks in Azerbaijan amounted to 14.36% in local currency (0.23% compared to the same period last year). The average rate in foreign currency was even higher - 14.64% (0.25).
Legal entities were given manat as debt at 11.09% per annum (minus 0.43%). Dollars and other foreign currency loans were issued under 16.54% per annum against the 10.76% a year earlier.
Loans to individuals in manat were issued under 18.09% (0.43%), and in currency - under 23.33% (2.59%). --17D-
Economics
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On the night of January 13-14, several flights bound for Baku from Istanbul, Moscow, and Tel Aviv were diverted to Ganja International Airport due to thick fog at Baku's Heydar Aliyev International Airport.
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Azerbaijan's Cabinet of Ministers approved a new sanitary-protection zone spanning 289.5 hectares for the Dashalti State Nature Reserve on Sunday, in a move aimed at strengthening environmental protection measures. The decision, signed by Prime Minister Ali Asadov, aligns with national legislation on protected areas and implements provisions of a 2014 presidential decree amending the law on "Specially Protected Natural Areas and Objects."
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During a working visit to the United Arab Emirates, Azerbaijani President Ilham Aliyev met with UAE President Sheikh Mohammed bin Zayed Al Nahyan on January 13, 2025, in Abu Dhabi. The meeting underscored the strengthening of bilateral relations between the two countries, with a special emphasis on energy cooperation, climate change efforts, and mutual investments.
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Azerbaijan's Consumer Price Index (CPI) in December 2024 marked a year-on-year increase of 4.9%, with food and beverage inflation leading the surge, according to data from the State Statistics Committee. The overall CPI stood at 104.9%, driven by a 5.5% rise in food products, beverages, and tobacco, 2.4% in non-food products, and a sharp 6.3% hike in paid services provided to the population.
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