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Loans to entrepreneurs increased in Azerbaijan's Nakhchivan

Economy Materials 24 October 2022 12:32 (UTC +04:00)
Loans to entrepreneurs increased in Azerbaijan's Nakhchivan
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, October 24. Entrepreneurs in Azerbaijan’s Nakhchivan Autonomous Republic received loans worth 36.9 million manat ($21.7 million) from January through September 2022, Trend reports via the report of the State Statistical Committee of NAR.

According to the report, of the issued loans, 12.28 million manat ($7.2 million) were spent on creating or expanding new production facilities, and 24.6 million manat ($14.4 million) - on developing private entrepreneurship.

In total, 11 legal entities and 2,254 individuals had been registered in Nakhchivan during the reporting period.

The gross domestic product (GDP) of Azerbaijan's Nakhchivan Autonomous Republic (NAR) grew by 2.5 percent from January through September 2022, up to 2.22 billion manat ($1.33 billion).

GDP per capita in the Nakhchivan Autonomous Republic amounted to 4,800 manat ($2,823), which was 3.1 percent more than from January through September last year.

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