1.7% of credit investments in Azerbaijan are problematic
The Central Bank of Azerbaijan has released a statistical bulletin on the results of January-September 2024.
The document says that by the end of September AZN 480 million of loans were overdue in the country. This is up by 1.5% from the end of August.
Note that the problem loans grew by 9.6% as compared to the end of the last year and dropped by 7.65% over the past year.
A share of loans past due as of 1 October in the total loan portfolio was 1.7%. On 1 September, the figure stood at 1.7%, at the beginning of the year - 1.8%, and on 1 October last year - 2.4%.
Finance
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On November 19, Finance Minister Samir Sharifov stated in the Milli Majlis (National Assembly) that fines issued to citizens in Azerbaijan sometimes do not reach the state budget. According to him, a new software system has been developed to address this issue and ensure proper oversight of fine payments.
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‘Baku Stock Exchange' (BSE) has started its work since 19 November to take part in the annual meeting of the World Federation of Exchanges (WFE), which will end on 22 November.
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There is additional potential in Azerbaijan associated with budget receipts from leasing of state property.
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In 2025, AZN 1,162.6 million is forecasted to be allocated from the state budget to 56 public legal entities in Azerbaijan.
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