MP not happy with interest on bank loans in Azerbaijan

There is extortionate interest on bank loans in Azerbaijan, MP Ali Masimli said at a meeting of the Parliamentary Committee on Economic Policy, Industry and Entrepreneurship, Report informs.

“Currently, the country has double-digit interest on loans, and these funds cannot be invested in the real sector. They can give a 2-3-month effect only in trade, but are not applicable in production. From this point of view, if the Central Bank of Azerbaijan reduces inflation, interest in banks should also decrease,” the deputy noted.