Analyst talks social project on problem loans of individuals in Azerbaijan

Finance Materials 16 January 2020 15:11 (UTC +04:00)
Analyst talks social project on problem loans of individuals in Azerbaijan

BAKU, Azerbaijan, Jan. 16

By Nargiz Ismayilova - Trend:

Solving the issue related to problem loans of individuals in Azerbaijan became one of the large-scale social projects of 2019, Trend reports referring to Azerbaijan’s Center for Analysis of Economic Reforms and Communications.

As a result of recent reforms in Azerbaijan, a part of the credit debts of individuals in manat, which grew as a result of devaluation, was paid from the state budget, said Masuma Talibova, analyst of the center.

These reforms, chosen according to their social orientation, served the interests of more than 800,000 people in general, the analyst noted.

“The development of the social sphere in Azerbaijan, as well as the further improvement of living conditions of the population is manifested in various aspects every day,” Talibova said.

“An increase in the Azerbaijani population by 40 percent has been observed since 1991 against the backdrop of development recorded in various sectors of the economy, and this is related to improvement in living conditions in the country,” the analyst added. “Thus, population growth rates vary depending on the general economic, intellectual and cultural development and modernization.”

The analyst noted that the demographic productivity in Azerbaijan (average birth rate per woman) recorded in international sources of statistics at the level of 1.89 exceeds the indicators of developed countries, as well as Russia (1.61), Armenia (1.64), Georgia (1.76).

“In terms of migration, Azerbaijan ranks 80th among 225 countries, leaving behind such countries as Armenia, Turkey and Georgia,” said Talibova. “The number of people arriving in the country is higher than the number of people leaving the country, and therefore we can talk about a good state of life.”

“Besides, statistics on qualitative indicators of living conditions of the population allow giving positive comments,” the analyst added. “Thus, poverty in Azerbaijan over the past 10 years has reached the lowest level - 4.8 percent, and the country ranks second among the CIS countries in terms of the lowest poverty level. Armenia ranks eighth with an indicator of 23.5 percent of poverty. The total unemployment and youth unemployment level in Azerbaijan is four times lower than in Armenia.”