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Real interest rate on deposits is still positive in Azerbaijan

Real interest rate on deposits is still positive in Azerbaijan

25 July 2011 13:08 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. As of July 1, 2011, the average interest rates on deposits of individuals in manat made annual 11.66%.

According to APA-Economics, the real average interest rates on deposits in manat made 2.76%.

Annual inflation in January-May made 8.9%, in Azerbaijan.

For comparison note that, the declared interest rates on deposits made 11.79%, last year, real interest rate including 5.7%-annual inflation made 6.09%. At the same time, average interest rates on deposits made 12.98% in 2009 and real interest rates including 1.5%-inflation stood at 11.48%. Thus, decline of real average interest rates on deposits was observed. This index rose 0.1 percentage points in May and this is related with decline of inflation by 0.1 percentage point.

So the depositors can only pay the growth of consumer prices and get 2.8%-profit from the incomes on deposits.

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