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Azerbaijan unveils share of communication & transport sector's lending in foreign currency

Finance Materials 19 November 2020 13:28 (UTC +04:00)

BAKU, Azerbaijan, Nov. 19

By Zeyni Jafarov - Trend:

The volume of lending to the communication and transport sector in Azerbaijan as of early October 2020 amounted to 891.6 million manat ($524.7 million), Trend reports citing data from the Central Bank of Azerbaijan (CBA).

According to the CBA, this figure is 312.2 million manat ($183.7 million) or 25.9 percent less compared to the same period of last year, and 24.5 percent or 285.9 million manat ($168.2 million) less than in early 2020.

Reportedly 155.4 million manat ($91.4 million) or 17.4 percent of loans accounted for short-term loans. Of these, 26.8 million manat ($15.7 million) were issued in national currency and 128.6 million manat ($75.6 million) in foreign currency.

The remaining 736.2 billion manat ($433.3 million) or 82.6 percent were long-term loans, and this figure is 252.1 million manat ($148.3 million) or 25.5 percent less compared to the beginning of October last year.

Loans worth 206.7 million manat ($121.6 million) were issued in national currency, and 529.4 million manat ($311.6 million) fell to the foreign currency.

Total transactions carried out in the foreign currency amounted to 73.8 percent (658 million manat, or $387.2 million) of the total lending to the communication and transport sector.

The share of lending to this sector in lending to the real sector made up 6 percent, which is 2.2 percentage points less than in the same period of last year.

In general, the volume of lending to the real sector stood at 14.87 billion manat ($8.75 billion) as of October 1.

(1 USD = 1.7 manat on Nov.19)

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