BAKU, Azerbaijan, February 17. S&P Global Ratings, the international rating agency, has projected a 15 percent increase in Azerbaijan's credit growth in 2025, Trend reports via the agency.
The agency pointed out that the driving force behind the anticipated credit growth is the uptick in consumer loans.
"Despite this growth, the private sector's debt remains among the lowest when compared to countries at a similar level to Azerbaijan. The ratio of household debt to GDP is 14 percent, while corporate debt to GDP stands at 10 percent," the report reads.
To note, the volume of credit investments in the Azerbaijani economy amounted to 29.3 billion manat ($17.2 billion) last year. This figure rose by 5.3 billion manat ($3.1 billion), or 22.1 percent, from 2023 (24 billion manat or $14.1 billion).
Additionally, enterprises, organizations, and individual entrepreneurs in the country produced a total of 126.3 billion manat ($74.2 billion) in Gross Domestic Product (GDP) for 2024, marking a 4.1 percent increase compared to 2023.
S&P Global Ratings, an American credit rating agency and subsidiary of S&P Global, possesses over 150 years of experience, 135 billion data points, and a team of 1,500 credit analysts providing financial research and analysis on equities, fixed-income instruments, and commodities. The entity, functioning as a credit rating agency, assigns credit ratings to the debt of both public and private entities, as well as to public debtors, including governmental agencies and municipalities.
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