Baku, Azerbaijan, Feb. 14
By Azad Hasanli – Trend:
The crediting of Azerbaijan’s districts has decreased by 30 percent – to 2.45 billion manats (1.7301 AZN/USD on Feb. 14) in 2016, as compared to 2015, according to a report of the country’s Central Bank (CBA).
The volume of loans issued in districts is decreasing against the background of general decline in the country by 24.3 percent or 5.3 billion manats.
The CBA says that loans worth 14 billion manats were issued in Baku in 2016 that is by 5.7 times more than in the country’s districts. Meanwhile, seven billion manats (50.01 percent) accounted for loans issued in the national currency – manat.
Borrowers received loans worth 21.7 billion manats in Baku in late 2015 and 11.01 billion manats (50.7 percent) out of this amount accounted for loans in national currency.
The average annual interest rate on loans was 10.5 percent in Azerbaijan in 2016 and 8.9 percent – in Baku.