MP: If Central Bank reduces inflation, then bank interest rates should also decrease

12:46 - 5.06.2023

June 5, Fineko/abc.az. Bank interests in Azerbaijan are predatory in nature.

ABC.AZ reports that committee’s deputy chairman Ali Masimli said this during his speech at today's meeting of the Parliamentary Committee on Economic Policy, Industry and Entrepreneurship.

"Now the country has double-digit interest rates on loans, and it is impossible to invest these funds in the real sector. They can give a 2-3-month effect only in trade, but are not applicable in production. From this angle, if the CBA reduces inflation, interest rates in banks should also decrease," Masimli said.

Other news