Government mortgage lending declines by 53% in Azerbaijan

Mortgage lending through Mortgage and Credit Guarantee Fund (MCGF) amounted to AZN 6.1 million in January 2020, which is 53.1% less than the same period of 2019, Report informs citing the Central Bank of Azerbaijan.

In the reporting period, the loans refinanced by the MCGF slid by 86.2% to AZN 3.5 million.

Funds allocated from the state budget to the MCGF stood at AZN 17.8 million.