BAKU, Azerbaijan, March 11. Iran's banks lent 2.19 quadrillion rials (approximately $52.2 billion) in the country's housing and construction sectors in the first 11 months of the current Iranian year (March 21, 2023–February 19, 2024), Trend reports.
Iran's Central Bank data shows that loans were granted for various reasons in the housing and construction industries:
- Construction work: 1.28 quadrillion rials (about $30.4 billion);
- Working capital: 774 trillion rials (about $18.4 billion);
- Development work: 76.4 trillion rials (about $1.82 billion);
- Purchase of housing: around 46.8 trillion rials (about $1.11 billion);
- Purchase of personal assets: 13.3 trillion rials (about $316 million);
- Repair work: 2.36 trillion rials (about $56.3 million);
- Self-employment: 1.73 trillion rials (about $41.3 million).
During the first 11 months of the current Iranian year, Iranian banks extended loans totaling 38.9 quadrillion rials (about $925 billion) across various economic sectors.
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