Government mortgage lending declines by 27% in Azerbaijan

Mortgage lending through Mortgage and Credit Guarantee Fund (MCGF) amounted to AZN 113,300,000 in January-August 2019, which is 27.05% 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 8% to AZN 171 million.

Amount of funds attracted through securities issue dropped by 40.7% to AZN 80 million.

Funds allocated from the state budget to the MCGF slipped by 60% to AZN 20 million.