$1bn in population’s hands

According to the president of the Banking Association of Azerbaijan Mr. Zakir Nuriyev, if the Azerbaijan population invested its savings of some $1 billion in the economy, it could achieve considerable spin-off resulting in economic growth.

Mr. Nuriyev added that the volume of commercial bank credits has increased lately. In 2000, commercial banks provided credits totaling AZM2.3 trillion, or AZM6 billion over 1998, he said.*