According to the Central Bank of Azerbaijan (CBA), credit institutions of Azerbaijan in the aggregate issued 15.82 billion manat of consumer and business loans with a specific weight of overdue loans at 8.7% or AZN 1 billion 375.6 million by November 1.
According to official statistics, a month's loan portfolio "lost" almost a billion in the national currency (by October 1, it was equal to AZN 16 billion 785.1 million with overdue AZN 1 billion 597.3 million).
The loan portfolio in the national currency by November 1 made up 53.8% or AZN 8 billion 509.5 million with overdue 632.3 million manat or 7.4%. Overdue loans in foreign currency made up AZN 743.3 million, or 10.2%.
Thus, the share of overdue loans is growing. Last year, due to the devaluation it rose from 5.3% in 2014 to 6.9%, or AZN 1 billion 508.5 million. --17D-
Economics
-
Azerbaijan began the new year with significant hikes in gas, electricity, water, and medication tariffs, sparking widespread concern among citizens over the financial burden on households. While officials defend the measures as necessary for economic sustainability, critics warn of challenges tied to stagnant wages and pensions.
-
As of January 1, Europe has ceased contract-based transit of Russian gas through Ukraine. Kyiv announced it would not renew agreements to traffic gas from the "aggressor nation" through its territory. The decision marks a pivotal moment in Europe’s efforts to reduce reliance on Russian energy, a dependency that supplied nearly 50% of the continent’s gas imports before the war in Ukraine.
-
Azerbaijan's Tariff Council has approved a decision to regulate the maximum wholesale and retail prices of registered medicines, with the new pricing caps coming into effect on January 2, 2025.
-
Azerbaijan's Tariff Council has approved tariffs for connecting construction sites to water supply and wastewater systems for the first time, addressing a previously unregulated sector with inconsistent charges, the council announced on January 2.
Leave a review