Authorized banks of the Azerbaijan Mortgage Fund (AMF ) under the Central Bank of Azerbaijan issued within 8 months of this year, loans to 79.1 million manat, which is 36.5 million or 85.7 % more than in January - August 2012 .
According to the Central Bank of Azerbaijan, the average lending rate from the beginning of the year decreased by 1.26 percentage points, and in August rose by 0.62 % to 5.74 %. The average credit period reached a historic high of 288 months.
The average for the monthly payment in January -August fell by 6.1% to 297.9 manat, the same indicator for the amount of loans increased by 15 % to 44,411 manat.
AMF agents are 28 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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The construction sector is undergoing significant reforms that are reshaping urban landscapes, driving economic growth, and creating jobs, said Namik Gummatov, First Deputy Chairman of the State Committee for Urban Planning and Architecture.
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Starting today, manufacturers and sellers of food and agricultural products can submit offers on the website tedaruk.az, aligning with public procurement requirements for 2025. The submission window will remain open until September 1.
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Recent reports and interviews indicate a noticeable rise in tomato prices in Azerbaijan over the past few months, primarily driven by market monopolies rather than external factors such as fuel costs or weather conditions.
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Azerbaijan's agricultural sector produced goods worth 6 billion 19 million manats in the first half of 2024, a 0.3% increase compared to the same period last year, according to a report by the State Statistics Committee (SCC). The report highlights a mixed performance across various agricultural segments, with livestock production seeing gains and crop production experiencing a decline.
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