Over thousands of new jobs to be created due to soft loans in Azerbaijan - minister

By Trend

Some 1,009 new jobs are supposed to be created in Azerbaijan due to soft loans issued from January through June 2021, the country’s Minister of Economy Mikayil Jabbarov said on Twitter, Trend reports on July 16.

According to Jabbarov, the soft loans in the amount of 36.6 million manat ($21.5 million) were issued to finance 546 investment projects in the country.

He noted that 97.1 percent of loans issued in the first half of this year accounted for micro, small and medium enterprises.

Besides, the minister said that 58.2 percent of soft loans were provided for the production and processing of agricultural products, 28.1 percent - for the production and processing of industrial products, and 13.7 percent for other areas.

Earlier, Jabbarov said that economy of Azerbaijan is dynamically recovering, and the main driving factor of the country's economic growth is being transformed from the oil sector to the non-oil sector.

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