The volume of mortgage lending at the expense of the Azerbaijan Mortgage Fund (AMF) in January-April 2014 amounted to 42 million manat (30.8% as of 1 May last year). According to the report of the Central Bank (CBA), the peak of lending was in April - this month gave the agent banks in need of housing 14.6 million manat.
Foundation 4 months refinanced loans worth 38 million manat. During the period taken by the AMF bonds worth 20 million manat.
AMF, created in 2005, on commercial terms with July 1, 2009 mortgage loans citizens through 28 authorized banks. Loans are granted for a period of 3 to 25 years, the maximum loan must not exceed 50 000 manats at the rate of not more than 8% per annum.
Social mortgage financed from the state budget. Its maximum size is also 50 000 manats, but at a maximum rate of 4% per annum.
The volume of mortgage lending at the expense of the Azerbaijan Mortgage Fund (AMF) in 2013 amounted to 112.9 million manat. Annually from the budget allocated for social mortgage 40 million manat. -17D-
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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