Authorized banks of the Azerbaijan Mortgage Fund (AMF) under the Central Bank of Azerbaijan issued within 5 months of this year, loans of 49.5 million manat, which is 17.8 million or 56.2% more than in January-May 2012.
According to the Central Bank of Azerbaijan, the average lending rate first year decreased by 0.05 percentage points to 6.95%. The average credit period decreased 277 months.
The average monthly payment increased by 1.3% to 321 manat, while the rate in the amount of loans increased by 0.5% to 38.923 million manat.
AMF agents are 27 local banks. Mortgage loans are issued to citizens of Azerbaijan in the amount of up to 50,000 manat for up to 25 years at a rate no higher than 8%. Concession loans are granted at a rate of up to 50,000 manat for up to 30 years at a rate of 4% per annum. - 15V -
Economics
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Azerbaijan's Cabinet of Ministers has approved amendments to the list of strategically important goods in the country's consumer market, as outlined in Decision No. 136 dated April 27, 2023. The update aligns with the implementation of the Law on State Reserves and a corresponding presidential decree, the government announced on Thursday.
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Representatives of Azerbaijani and Latvian business circles convened in Baku for the "Azerbaijan-Latvia Information and Networking Meeting," marking a significant step in bolstering economic cooperation between the two countries. Latvian Ambassador to Azerbaijan, Edgars Skuja, underscored the event’s mission to connect entrepreneurs from both nations, aiming to enhance collaboration across multiple sectors.
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The President of Azerbaijan approved the amendments on November 7, which were made to the “Law of the Republic of Azerbaijan on Credit Bureaus” by the Milli Majlis. The text of the amended law was published on November 28.
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The European Bank for Reconstruction and Development (EBRD) has released its Transition Report 2024-25 for Azerbaijan, urging the country to take bold steps to improve economic governance and foster private sector development. The report outlines key priorities for Azerbaijan’s economic trajectory and highlights challenges stemming from its reliance on volatile energy markets.
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