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Guaranteed and non-guaranteed credits amount grown in 2, 4 times in 2005

Business Materials 7 April 2006 16:45

According to the National Bank payment balance, the total weight of all guaranteed and non-guaranteed credits attracted to the private sector via deposits, loans and other investments in 2005 has reached 17, 6% from the total amount of foreign investments. Their total amount is $861, 8m, which is in 2,4 times more than in 2004, the NB told Trend.

33, 4% ($287, 9m) of all attracted credits come from loans attracted by the finances ministry to finance works within the frames of the international oil-gas contracts. $282, 1m of them have been attracted directly by the state. $19, 7m came via the trench for the poverty struggle. $262, 4m have been spend on the financing of the investment

projects AzAL, Azenerji, Azercu and reconstruction of the drainage systems.

$291,8m of credit was attracted by banks and firms. The foreign capitals amount has grown in 3,2 times or $200, 1m in comparison to 2004. their total weight has grown in 4% and reached 6% as a result.

The state debt as the result of these credits has grown to 42% or $1650m. And the total weight of the debt in GNP is 13, 1% decreasing to 5, 5%. In the regard to the strategic resources it has fallen to 64, 2% from 77, 5% in comparison to 2004 i.e. the state debt is in $922m lower that the currency reserves of the country.

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