BAKU, Azerbaijan, March 18. Azerbaijan's net financial assets in loans and credits took a hit, dropping by $75.5 million, while net financial liabilities saw a significant decline, falling by $862.4 million in 2024.
Data obtained by Trend from the Central Bank of Azerbaijan indicates
that this downturn can be attributed predominantly to the
fluctuations within the credit ecosystem, characterized by a surge
in net financial obligations within the banking domain ($105.9
million) and an uptick in corporate lending ($57.8 million).
Nonetheless, a contraction was observed in the lending landscape
for the oil and gas sector, amounting to $227.4 million, alongside
a reduction in state loans totaling $422.9 million, and a decline
in government-backed loans, which reached $375.8 million.
Furthermore, the aggregate net financial assets within the realms
of deposits and liquid cash experienced a contraction of $252.9
million, concurrently with a notable escalation in net financial
liabilities amounting to $191.7 million.
In the fiscal year 2024, there was a contraction in the reserve
assets within the payment balance, reflecting a decrement of $0.4
billion.
Throughout the designated reporting interval, the net discrepancies
and omissions within the payment balance were recorded at a deficit
of $106.7 million.
