Baku. 11 July. REPORT / Total credit investments in Azerbaijan's economy as of June 1, 2016 amounted to 21 206.5 million AZN. Report informs referring to the Central Bank of Azerbaijan (CBA), it is less by 3 374.4 million manats, or 13.72% compared with the beginning of the year and less by 529.7 million AZN or 2.43% in comparison with the figure as of May 1, 2016. Credit investments in economy on an annualized basis decreased by 1 287.9 million AZN or 5.72%.
As a result of the devaluation in December 2015, in January total credit investments increased due to USD loans. However, in January-May the decline tendency has started. The reason was the suspension of the lending in the banking sector and decline in government investment.
Analytical Group of Report News Agency predicts a slowdown in the process of reduction of credit investments in June 2016, due to the weakening of Azerbaijani manat in June. Thus, the depreciation of the national currency led to an increase in the value of dollar-denominated loans in manat terms.