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Azerbaijan discloses amount of loans received by entrepreneurs in Nakhchivan

Finance Materials 2 September 2020 14:03
Azerbaijan discloses amount of loans received by entrepreneurs in Nakhchivan

BAKU, Azerbaijan, Sept. 2

By Zeyni Jafarov – Trend:

The entrepreneurs in Azerbaijan’s Nakhchivan Autonomous Republic received loans worth 18.9 million manat ($11.1 million) from January through June 2020, Trend reports citing the data of the State Statistics Committee of the Nakhchivan Autonomous Republic.

Some 11.3 million manat ($6.6 million) of that amount were allocated for the creation or expansion of production spheres, 7.5 million manat ($4.4 million) - for the development of private entrepreneurship.

The production and service facilities were created in various spheres of economic activity within 69 projects through the state support and 133 low-income families were self-employed.

During the reporting period, there were 96,500 hired employees in the Nakhchivan Autonomous Republic, 37,900 employees of them - in the public sector, 58,600 employees - in the private sector. Some 638 new jobs were created.

The average monthly salary of one employee amounted to 524.8 manat ($308.7) during the reporting period.

The employees working in the field of finance, insurance, state governance, social security and those employed in wholesale and retail trade had the highest average monthly salaries.

(1 USD = 1.7 AZN on Sept. 2)

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