Bank Of Baku

Azerbaijan’s real estate market more affected by global crisis

Azerbaijan’s real estate market more affected by global crisis
# 25 November 2008 13:52 (UTC +04:00)
Baku. Rashad Suleymanov - APA-Economics. The global financial crisis most affected the real estate market in Azerbaijan, said Alakbar Mammadov, President of Azerbaijan Confederation of Entrepreneurs.
He added that the ongoing crisis could not bypass the economy of Azerbaijan.
“Our companies engaged in export and imports are more vulnerable to the crisis,” he added.
He also stressed that the global financial crisis might also affect the financial sector of Azerbaijan, especially in the insurance sector.
With this in mind, the Government and the central bank should take appropriate measures.
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