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    Azerbaijan's economy requires 15-20 bln AZN for normal development

    'Tourism sector, agriculture, trade and services need lending', Elman Sadigov says

    Baku. 26 May. REPORT.AZ/ For Azerbaijan's economy to function smoothly, its real sector requires 15-20 billion manats. 

    Report informs Elman Sadigov, head of the expert group on risk assessment of the Azerbaijan Accountants and Risk Professionals Association (ARPA) said.

    E.Sadiqov made this statement at the second Risk Management Forum in Baku today.

    'Tourism sector, agriculture, trade and services need lending', the expert said.

    E.Sadigov added that currently the volume of existing loans of the country is equal to 9-10 bn:. "Car and consumer loans are the resources that do not create value-added economy."

    It was mentioned that, according to information as of December 2014, Japan ranked the first in respect of loans granted to the GDP indicator of 373.8%: "In Azerbaijan, this figure is 33.8%. As volume of lending to the real sector is higher, economy of the country is more developed."

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