Azerbaijan gets decline in government mortgage lending

 Azerbaijan gets decline in government mortgage lending
# 13 June 2016 10:19 (UTC +04:00)

Baku. Yegane Lachinzade - APA-Economics. As of May 1, 2016, the mortgage loans given through Azerbaijan Mortgage Fund (AMF) made AZN 0.2 mln, down 99.4 times or AZN 34.7 mln from previous year.

 

According to Central Bank of Azerbaijan, the mortgage lending through the AMF has risen AZN 0.1 mln or doubled in February 2016.

 

AZN 3.5 was allocated to AMF from the state budget. AMF refinanced AZN 3.5 mln in April 2016.

 

Fund has not placed bonds in February.

 

As of May 1, 2016, the loans given by authorized credit organizations made AZN 40,883,100, average period – 280 months, average interest rate – 6.70%, monthly payment – AZN 296.7.

 

For comparison to note that the loans given by authorized credit organizations in the same period of 2015 made AZN 40,482, average period – 279 months, average interest rate – 6.74%, monthly payment – AZN 297.6.

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