No Mortgage Loan Issued This Summer
The banks authorized by the Azerbaijan Mortgage Fund (AMF) did not give any mortgage loan in August.
Judging by the Fund's basic indexes, the figures as of June 1 are valid; according to them, 17,997 mortgage loans totaling 730,802,420 manats were granted. That is, in the summer there was stagnation, but since the beginning of the year there has been issued a total of 72 credits in the amount of 1 million 64.9 thousand manats; 15 thousand manats for each request.
The consequences of last year's devaluation are only now being felt. So 2,146 loans totaling 97 million 273.98 thousand manats were issued last year. According to experts, the banking crisis is in the middle and the little benefit mortgage lending (banks' profit is 8% per year) has been postponed indefinitely.
Recall mortgage lending has been introduced in Azerbaijan since 1 January 2006. Concessional lending (4% a year) stopped in July 2007, while lending on the general principles has been permanently frozen since June 1, 2016. --17D-
Economics
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Azerbaijan’s gross domestic product (GDP) reached 126.3 billion manats in 2024, marking an increase of 3 billion manats, or 2.4%, compared to the previous year, according to data released by the State Statistics Committee. In 2023, nominal GDP stood at 123 billion manats.
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The latest data from the State Statistics Committee reveals that as of December 1, 2024, the total number of salaried workers in Azerbaijan stood at 1.775 million, with 884,400 employed in the public sector and 890,900 in the private sector. This figure falls significantly short of the government's ambitious targets set seven years ago, raising concerns about employment opportunities, particularly for the country's burgeoning youth population.
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Azerbaijan's legal and physical entities engaged in trade operations with partners from 176 countries between January and November 2024, exporting goods to 120 nations and importing from 167, according to the State Customs Committee.
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Azerbaijan's retail trade turnover climbed 3.9% in real terms in 2024 compared to the previous year, reaching a total of 62.2 billion manats, the State Statistics Committee revealed. Food, beverages, and tobacco accounted for 34.1 billion manats, while non-food products contributed 28.1 billion manats to the total.
Ermənistan- ABŞ sazişi. İsrail- HƏMAS atəşkəsi. Rusiya təklənir? – Rauf Mirqədirov Çətin sualda
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