Authorized banks of Azerbaijan Mortgage Fund (AMF) under the Central Bank of Azerbaijan, issued within 11 months of this year, loans of 61.5 million manat, or 24.4 million or 28.4% less than in January-November 2011.
According to the Central Bank of Azerbaijan, the average lending rate first year increased by 0.09 percentage points to 7%. The average credit period reached 277 months.
The average for the monthly payment increased by 5.5% to 318.1 manat, the same indicator for the amount of loans fell by 1.6% to 38.733 thousand manats.
AMF agents are 27 local banks. Mortgage loans are provided to Azerbaijani citizens at up to 50,000 manat for up to 25 years at a rate no higher than 8%. Concession loans are up to 35,000 manat for up to 30 years at a rate of up to 4% per annum. - 15V-
Economics
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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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Global diesel prices and refining margins have spiked following the latest U.S. sanctions targeting Russian oil trade, as markets brace for reduced supply, analysts and LSEG data indicate.
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