16:28 - 14.01.2020

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January 14, Fineko/abc.az. Consumer loans and loans to the population increased a little more than by 20%. In general, one of the main tasks that we will naturally do this year is to increase the accessibility of the economy, especially small businesses, to low long-term loans through microcrediting.

ABC.AZ reports that the above-said statement was made by Central Bank’s chairman Elman Rustamov at the 13 January meeting chaired by President Ilham Aliyev and devoted to the results of 2019.

According to Rustamov, term deposits in manats grew by 27%. He believes that this shows that the steps taken in the social sphere not only ensure the high level of population’s consumption, but also provide savings for the population: "Our main goal in the payment system, of course, is to increase the level of non-cash payments, as well as limiting cash payments. Last year the volume of payments through the national payment system increased by 10% and the number of payments by 41%.

The number of payment cards grew by 13%, card payments by 29%, non-cash payments by 57%, and electronic payments by 93%. There is positive dynamics here. On the one hand, the results of reforms in this area carried out last year, and transparency in general. On the other hand, these are measures arising from the implementation of the state program on expansion of cash payments and modernization of the payment system. But we have a lot of work to do. I believe this year both the Central Bank and the Azerbaijani government are facing very important tasks in this direction."

By Elmir Murad