Number of credit organisations decreases in Azerbaijan
As of the end of 2023 there were 117 credit organisations in Azerbaijan. This is reported on the website of the Central Bank of Azerbaijan.
According to the data, this is down by 3 units, or 2.5% from the end of 2022.
Last year the number of banks in Azerbaijan decreased by 2 units - from 25 to 23 (licenses of "Günaybank" and "Muganbank" were cancelled); the number of non-bank credit institutions decreased by 1 unit - from 55 to 54 (licenses of "Union Kredit", "Gold Finance" and "Visa Kredit" were cancelled; licenses of "Nova Credit" and "Caspian Finance" were replaced), and the number of credit unions remained unchanged-40. -0-
Finance
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Rising prices for electricity, natural gas and heat in Azerbaijan since the beginning of this year may have a significant impact on annual inflation at the level of 0.51 %.
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The Central Bank of Azerbaijan (CBA) forecasts that an average price of a barrel of oil in the world market in 2025 will be $77.3, and the price of 1000 cubic metres of natural gas - $349.
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The Central Bank of Azerbaijan (CBA) forecasts that by the end of 2025 the country's economic growth will be 3.3 %, including the production of gross domestic product (GDP) in the non-oil and gas sector to grow by 5.2 %.
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According to updated forecasts of the Central Bank of Azerbaijan (CBA), annual inflation is expected to be about 5.5 % in 2025 and about 3.8 % in 2026.This is reported on the CBA's website.
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