As of November 1 the Azerbaijan Mortgage Fund (AMF) issued a total of 17,997 mortgage loans totaling 730 million 802.42 thousand manat.
The same indicators were at the beginning of June, that is, in the last five months no housing mortgage loan was issued. Two loans of 2,500 manat each were issued in May. In April two loans were issued in the amount of 93.02 thousand manat.
Recall, last year was more effective for borrowers – 2,146 loans totaling 97 million 273.98 thousand manat were issued.
Housing loans have been issued by the AMF since 2006, but the social segment (up to 50,000 manat under 4% per annum) has been virtually absent from the second half of 2007. Now the issuance of commercial mortgage loans (up to 50,000 manat under 8% per annum) is inhibited.
The reason is the lack of benefits from mortgage lending for the authorized financial institutions. They earn more from consumer (20 to 40% per year) and business (12 to 18%) credits. --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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