BAKU, Azerbaijan, September 22. Banks and credit institutions of Azerbaijan's Nakhchivan Autonomous Republic gave out loans in excess of 191.355 million manat ($112.56 million) to legal entities and individuals from January through August 2022, Trend reports citing Nakhchivan’s State Statistical Committee.
As the Committee reported, lending issued in the first eight months of 2022 was 31 percent more than in the same period of 2021.
In the reporting period, nearly 16.84 million manat ($9.9 million), or 8.4 percent of the overall volume, fell on short-term loans, while 175.27 million manat ($103.1 million), or 91.6 percent of the total amount came at long-term loans.
The gross domestic product (GDP) of Azerbaijan's Nakhchivan increased by 2.4 percent from January through August 2022 against the same period of 2021. Thus, Nakhchivan's GDP stood at 1.9 billion manat ($1.1 billion).
GDP per capita in the Nakhchivan Autonomous Republic amounted to 4,182 manat ($2,460) during this period, which was 2.9 percent more than from January through August 2021.