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Azerbaijan gets 8% decline in government mortgage lending

05 January 2015 13:02 (UTC +04:00)

Baku. Musa Ahmadov - APA-Economics. In January-November, 2014, AZN 88.6 mln mortgage loans were given through Azerbaijan Mortgage Fund, down 8.1% or AZN 7.8 mln. from previous year.

Central Bank of Azerbaijan told APA-Economics that AMF refinanced AZN 120 mln in January-November. The Fund has not placed bonds for five months.

As of December 1, the authorized credit organizations gave AZN 40,114 loan. Average period of these loans were 279 months, average interest rate – 6.81% and monthly payment – AZN 331.6.

For comparison to note that the authorized organizations gave AZN 39,328 last year. Average period made 277 months, average interest rate -6.89% and monthly payment – AZN 319.6.