The debt burden of the population in Azerbaijan increased last year.
Yeniavaz.com reports that this information is contained in the report "Financial Stability - 2024" published by the Central Bank.
It is reported that the ratio of the debt burden to the disposable income of the population increased by 2.2 percentage points compared to the end of last year, reaching 18%.
For reference, the debt burden characterizes the total amount of debt of the population to credit institutions (banks, NPOs) for consumer and mortgage loans. Disposable income is the money remaining from a person's salary (income) after deducting taxes, social security contributions and other mandatory deductions. That is, the income remaining at disposal shows the real amount that can be spent.
Last year, the average monthly amount of money per economically active person in Azerbaijan was 1,150 manats. The debt burden to disposable income ratio of 18% means that last year, each resident of Azerbaijan had an average of 207 manats in monthly debt to banks and NBCOs.
For comparison, in 2023 this debt was 174 manats, in 2022 - 140 manats, in 2021 - 112 manats, in 2020 - 93 manats.
As can be seen from the disclosed data, the debt of the population (economically active population) to banks has increased by 2.2 times over the past 4 years.
The Central Bank's information also notes that, according to the results of a survey of banks on credit activity and sources of financing, 15% of banks reported a moderate increase in household borrowing.
The report notes that the Central Bank keeps the dynamics of household borrowing in the spotlight and is forming a regulatory policy in this direction.
Elnur Ali
Tətbiqimizi yükləyə bilərsiniz
