Problem loans in Azerbaijan continue to grow
The Central Bank of Azerbaijan has published a statistical bulletin on the results of the first quarter of 2024.
According to the document, as of the end of March, overdue loans in Azerbaijan amounted to 470.8 million manats, which is up by 0.35% from the end of February.
Add that the amount of problem loans in the country rose by 7.5% as compared to the end of the last year, and declined by 20.3% over the past year.
A share of loans overdue as of April 1 in the total loan portfolio amounted to 1.9%. This rate was also 1.9% on March 1; 1.8% on January 1 and 2.9% on April 1 last year.
Finance
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In January-August 2024, two state financial institutions of Azerbaijan jointly paid dividends in the amount of AZN 169.9 million, or about $100 million. This is stated in the conclusion of the Accounting Chamber over the Draft Law ‘’On State Budget for 2024‘’.
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President Ilham Aliyev's decree of 28 March 2022 ‘On Approval of the Upper Limit of Ratio of Non-oil Base Budget Deficit to Non-oil Gross Domestic Product (GDP)’ is not honoured.This is stated in the conclusion of the Accounting Chamber on the Draft Law ‘On State Budget for 2025’.
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