In the first half of the year the volume of mortgage loans from the Azerbaijan Mortgage Fund (AMF) decreased. According to the information of the Central Bank of AR (CBA), by 1 July it was 56.5 million AZN (minus 4.2 million or 6.9% over the same period last year).
According to the CBA, the AMF in January-June refinanced loans worth 37.8 million manat (minus 33.2%).
In the first half of the year the AMF received 23.9 million manats from the state budget to finance social mortgage.
In March 2006 the AMF began to issue mortgage loans. Its agents in the issuance of mortgage loans on commercial terms are 30 banks. In commercial terms, mortgage loans issued by Fund are raised from the issue of the Fund's own bonds. --17D-
Economics
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BP, the operator of the Shah Deniz gas condensate field, announced on Sunday that production from the Shah Deniz Alpha platform resumed on the evening of January 18. This followed the complete resolution of a technical issue with the subsea condensate export pipeline between the Shah Deniz Alpha platform and the Sangachal terminal.
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SOCAR President Rovshan Najaf met with the Minister of State for Petroleum of Pakistan, Musadik Malik, on January 18. According to SOCAR, the discussions covered joint energy projects, achieved outcomes, and cooperation opportunities in various areas, including the trade of petroleum products.
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The State Statistics Committee of Azerbaijan reported that in 2024 investments in fixed assets reached 21,435.1 million manats, which is 0.7% less than in 2023. While overall figures edged lower, the sectoral breakdown reveals notable disparities between the oil and gas sphere and non-oil industries.
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Azerbaijan’s industrial enterprises and individual entrepreneurs reported a modest 1.1% year-on-year increase in industrial production during 2024, reaching an output valued at 64.1 billion manat. The State Statistics Committee attributed the overall growth to a 0.5% expansion in the oil and gas sector, while non-oil and gas industries surged by 7.3%.
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