Government mortgage lending declines by 35% in Azerbaijan

Tural Ibadli
Author

Mortgage lending through Mortgage and Credit Guarantee Fund (MCGF) amounted to AZN 119,300,000 in January-September 2019, which is 34.9% less than the same period of 2018, Report informs citing the Central Bank of Azerbaijan.

In the reporting period, the amount of loans refinanced by the MCGF rose by 5.7% to AZN 188.7 million.

Amount of funds attracted through securities issue dropped by 29% to AZN 110 million.

Funds allocated from the state budget to the MCGF slipped by 80% to AZN 20 million.

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