Overdue loans of National Fund for Entrepreneurship Support soar by 85%

Baku. 22 May. REPORT.AZ/ Overall amount of overdue loans to be paid to National Fund for Entrepreneurship Support (NFES) made AZN 40,785.85 thousand by January 1, 2016, whereas by January 1, 2017 this figure up by AZN 34,683.5 thousand or 85% to AZN 75,469.37. This made 7.2% of the Fund’s portfolio as of reporting period.

Report informs referring to the review provided by the Chamber of Accounts on execution of 2016 state budget and the draft law "On execution of the state budget of the Republic of Azerbaijan in 2016".

AZN 70,484.25 thousand or 93.4% of overdue loans belong to liquidated banks, AZN 4,570.74 thousand or 6.6% to active authorized credit institutions.

As of January 1, 2017, NFES's credit funds (loan, interest and fine) remaining in authorized credit institutions amounted to AZN 1,045,283.45 thousand, whereas the amount left in liquidated banks was AZN 202,711.68 thousand.