Residual volume of lending to the economy of the country has increased in October 2013 to 198.1 million or 1.3% to 14,991.4 million manat.
According to the Central Bank of Azerbaijan, increase in lending over the past 12 months amounted to 3347.9 million or 28.8% . Overdue loans in the total reached on November 1 of this year 5.2% against 6.6 % a year earlier.
Short-term loans for the year grew by 97.9 million or 3%, while the long-term - up to 3249.8 million or 38.5%. The residue was last equaled 11,615.8 million manat. The share of long-term loans in total lending amounted to 77.5% (against 71.9 % a year earlier).
The share of private banks in total credit investments increased to 62.8% , the share of the country's largest International Bank of Azerbaijan has decreased to 34.3 %, the remaining 2.9 % were non-bank credit organizations
In the real economy by banks issued 98.53 % of all loans in the financial sector - 1.47 %. As of November 1, 2013 , individuals granted loans totaling 5886.7 million or 39.3% of the total, in the sphere of trade and services - 2227 million or 14.9% , in the field of energy and natural resources -307.8 million or 2.1% , in construction and property - 2302.9 million or 15.4% , in the sphere of industry and manufacturing - 1456.4 million or 9.7% , in transport and communications - 497 million or 3.3% , in the sphere of agriculture and processing - 722.5 million or 4.8 %, etc.
The share of loans in foreign currency amounted to 28.6%. At the corresponding time last year, the share of foreign currency lending to the economy was 32.2% .
According to the regional structure of credit investments 86.8 percent accounted for Baku. The capital also falls 85.3 percent delinquency. The average lending rate in the country in October amounted to 14.2 % (previous month, it was 14.4 %).
According to the Azerbaijani Central Bank , the average rate on loans in manat in October increased by 0.19 % to 14.33 % , for loans in foreign currency - 0.11% to 14.55% . In annual terms manat resources decreased by 0.88 percentage points, and currency - by 0.90 percentage points As of November 1 , manta loans were to individuals under the 18.35 % and 20.70 %, respectively. For legal entities, the figures were 11.40% and 10.98% respectively. - 15V -
Economics
-
Elon Musk, co-chair of the U.S. Department of Government Efficiency (DOGE), has outlined a strategy to bring inflation in the United States down to zero by 2026 through aggressive cuts in federal spending. Musk’s plan, which aims to reduce approximately $4 billion in projected daily expenditures, is designed to shrink the federal deficit to $1 trillion by 2026. While the deficit would still be substantial, Musk argues that accelerated economic growth could offset inflationary pressures, ultimately stabilizing the economy.
-
The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas projects in the Mediterranean, SOCAR said in a statement on Wednesday.projects in the Mediterranean, SOCAR said in a statement on Wednesday.
-
On January 30, Azerbaijani President Ilham Aliyev has signed a decree approving the State Program for the Improvement of Transport Infrastructure in Baku and Surrounding Areas for 2025-2030, aiming to modernize the capital’s urban mobility and reduce congestion, the presidential press service said on Tuesday.
-
Goldman Sachs has revised its oil price forecasts, raising its projections for Brent and Azeri Light crude by $2 per barrel for both 2025 and 2026, setting the estimate at $78 per barrel. The adjustment reflects expectations of tighter supply conditions driven by geopolitical risks, including U.S. sanctions affecting Russian oil production and potential future restrictions on Iranian crude exports.
Leave a review