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Azerbaijani oil and gas sector repays almost half billion dollars of foreign loans

Business Materials 14 December 2012 20:08 (UTC +04:00)

Azerbaijan, Baku, Dec. 14 /Trend A.Akhundov/

In January-September 2012 the share of direct state and state-guaranteed loans, loans attracted by banks and Azerbaijani oil and gas sector accounted for 47.6 percent of total foreign investment. This was stated in the payment balance, published on the website of Azerbaijani Central Bank.

The total volume of investments amounted to $3612.9 billion, or 34.65 percent more than the figure during same period last year.

Loans attracted by state and under the state guarantee accounted for 37.1 percent ($805.1million). The share of unsecured loans made up $1363.6 billion (62.9 percent).

Of these, $1102.4 billion was attracted by the banks, $261.2 million by other enterprises and companies.

Of the total amount of earlier attracted loans, $1638.5 billion was repaid. Some 46.3 percent ($758.4 million) of repaid loans accounted for the banking system, 13.6 percent ($223.4 million) - state and state-guarantee loans, 28.5 percent ($466.3 million) - oil and gas sector, 11.6 percent ($190.4 million) - other enterprises and companies.

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