Over the first half of 2016 the bank credit portfolio in Baku decreased by 13.7%, and amounted to 15billion 697.564.500 manat, the Azerbaijani Central Bank notes. At the end of 2016 loans the banks of the capital issued 18 billion 176 million 1.1 thousand manat, with an annual interest rate of 9.8%. Over the first half of the year the volume of credits in manat on Baku amounted to AZN - 7 billion 707 million 156.4 thousand, and in the currency of 7 billion 990 million 408.1 thousand manat. The average percentage of loans in manat amounted to 11.1%, and in foreign currency - 8.5%.
Lending in regions of the country was significantly lower. It decreased by 22.8%, and amounted to 2 billion 736 million 652.9 thousand manat. Annual interest rate in the country was 11.2%. The most noted crediting of physical and legal entities was noted in the:
Aran economic region - 719.04 million manat (annual average percentage of 21.2%), Absheron economic region -. 580 million 825.1 thousand manats (16.2%.)
Ganja-Kazakh economic region of 584 million. 462.8 thousand manat (18.9%),
Lankaran economic region of 232 million, 520.3 thousand manat (21.8%). -0-
Economics
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Azerbaijan’s economic growth is expected to continue in the coming years, although forecasts from ING Group and the United Nations (UN) present slightly differing views on the pace of recovery. ING Group, the largest banking institution in the Netherlands, predicts modest growth in Azerbaijan’s gross domestic product (GDP), while the UN offers a more optimistic outlook.
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The average age of taxi cars in Azerbaijan has dropped from 15 to 7 years, according to a statement from the Azerbaijan Ground Transport Agency (AYNA), which attributes this change to the implementation of reforms.
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Kazakhstan has bolstered its position in international grain markets by resuming exports to Iran and Azerbaijan, according to the country’s Ministry of Agriculture.
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In recent years, Azerbaijan has quietly fostered a vibrant startup ecosystem that is beginning to make waves on the international stage. From digital education platforms to innovations in agrotechnology, these startups reflect the country's growing embrace of technology and entrepreneurship. A combination of government support, international collaboration, and bold entrepreneurial vision has propelled several Azerbaijani ventures into the global spotlight.
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