17:03 - 25.10.2019

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October 25, Fineko/abc.az. The World Bank has published the next report on the current state of the economies of Europe and Central Asia, detailed analysis of trends observed in the field of finance, business and investments.

ABC.AZ informs with reference to the report of the Financial Market Supervision Authority that the report, which assesses similar areas of the economy of Azerbaijan, highly appreciates the structural reforms aimed to strengthen the resilience of the economy to external negative impacts.

The WB report says that the measures consistently taken by the government to stimulate financial markets have had a positive impact. Thus, due to the stable exchange rate of the national currency, the profitability of the banking sector has recently increased, the sector's indicators have improved in the 1st half of 2019 due to high capitalization and reduction in the number of problem loans. The report particularly says that Presidential Decree “On additional measures to address problem loans to individuals in Azerbaijan" from 28 February 2019 plays an important role as the reason for the decline in problem loans. It was also noted that after the financial crisis in 2014-15, the credit activity of the sector increased as well as lending rates.