Resources of credit institutions for the year increased by 30%
Total credit resources allocated by the credit institutions by July 1 of this year amounted to 13.8 billion manat (+30.1% compared to the same period last year.)
According to the State Statistics Committee, 10.2 billion of that amount are long-term, and 768.7 million or 5.6% are delayed loans.
Bank deposits amounted to the equivalent of 5.9 billion manat, of which 3.6 billion - investments in local, 2.3 billion - in foreign currency.
June's average exchange rate of manat to 1 U.S. dollar was 78 kopecks against the euro - 1.04 manat to 100 Russian rubles - 2.43 AZN. - 17D-
Economics
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Azerbaijan and Iran are actively discussing the construction of a strategic railway line that will connect the East Zangezur Economic Region with the Nakhchivan Autonomous Republic, according to Rovshan Rustamov, Chairman of Azerbaijan Railways CJSC. Rustamov disclosed the details of these talks during his recent visit to Iran, where he met with Jabbar Ali Zakeri Sardrodi, head of the Iranian Railway Administration.
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Agricultural land in Azerbaijan's liberated territories may be leased to business entities through investment tenders. This is reflected in the draft law on proposed amendments and additions to the "Law on Land Lease." The document was discussed at the meeting of the Agrarian Policy Committee of the Milli Majlis (Parliament) on October 14.
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According to preliminary data released by the State Statistics Committee, as of October 1 of the current year, Azerbaijan's economically active population stood at 5.304 million people, of which 5.021 million were employed. These figures highlight the relatively stable labor market in Azerbaijan, as the same number appears in the data for the last three years.
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Azerbaijan witnessed a modest yet steady increase in nominal incomes in the first nine months of 2024, as incomes grew by 6.1% compared to the same period in 2023. This rise brings the total nominal income of the population to 61.587 billion manats, averaging 6039.2 manats per person. This is reported by the State Statistics Committee.
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