Igbal Aghazade: "Global economic crisis has affected the construction and banking sectors of Azerbaijan"

He said the sharp decline in oil prices lead to the depression in some economic spheres.

"In particular, implementation of big construction projects, defined by the state budget, has been stopped in the construction sphere due to the rapid decline in oil prices, which in return reduced jobs and prompted dismissals.

Moreover, problems also appeared in the financial sector of Azerbaijan. Though banks have significantly reduced rates on loans issuance, the purchasing capacity of the population has dropped 3-4 times. Thus, the global economic crisis affected the construction and banking sectors of Azerbaijan", noted Aghazade.

/Day.Az/