Government mortgage lending declines by 36% in Azerbaijan

Mortgage lending through Mortgage and Credit Guarantee Fund (MCGF) amounted to AZN 173,300,000 in 2019, which is 36.4% less than the same period of 2018, Report informs citing the Central Bank of Azerbaijan.

In the reporting period, the amount of loans refinanced by the MCGF slid by 9.8% to AZN 220.4 million.

The amount of funds attracted through the issue of securities dropped by 25% to AZN 150 million.

Funds allocated from the state budget to the MCGF slipped by 20% to AZN 80 million.