Credit investments in economy of Azerbaijan decreased by 4%

Baku. 13 June. REPORT.AZ/ Aggregate credit investments in Azerbaijani economy as of May 1, 2016 amounted to 21 736.2 mln AZN.

Report informs referring to the Central Bank of Azerbaijan (CBA), it is less by 2 844.7 mln AZN, or 11.57% compared with the figure at the beginning of the year and less by AZN 893.4 mln or 3.94% - with the indicator of April 1. Credit investments in economy on an annualized basis rose by 765.9 mln AZN, or 3.4%.

As a result of the devaluation of December 2015, in January, total credit investments increased by USD loans. However, in February-April, the trend to reduce them continued.

Analytical Group of Report News Agency predicts an even greater reduction of credit investments in May 2016: "This is due to the strengthening of manat in April, and the resumption of lending by banks. Thus, the growth of the national currency led to a decrease in the value of dollar-denominated loans in manat terms.