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Credit Increase in Nakhchivan AR Economy

Business Materials 1 February 2008 13:27 (UTC +04:00)

Azerbaijan, Nakhchivan, 1 February / corr. Trend E. Mammadov/ The crediting of the economy of the Nakhchivan Autonomous Republic (AR) of Azerbaijan has increased by AZN 7 mln in 2007. The meeting was held in the Nakhchivan branch of the National Bank of Azerbaijan said, the regional correspondent of Trend reported.

The head of the branch Sabuhi Mammadov said that the credits directed to the economy of the Nakhchivan AR totaled AZN 18,384,000, long term credits totalled AZN 17,488,000 and short-term credits totalled AZN 897,000 in 2007. The crediting rose by AZN 7 mln compared to the same period of 2006.

The bank and non-bank organizations allocated credit worth AZN 13,803,000 in 2007. Some AZN 6,209,000 of the amount was short-term credits and AZN 7,594,000 was for long-term credits.

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