BAKU, Azerbaijan, Nov. 20
By Zeyni Jafarov – Trend:
The volume of lending to the Azerbaijani construction sector in early October 2020 amounted to 433.7 million manat ($255.1 million), Trend reports citing the data from the Central Bank of Azerbaijan (CBA).
This figure is 53.4 million manat ($31.4 million) or 14 percent more compared to the same period of last year. However, a decline of 32.9 million manat that’s $19.3 million (7.1 percent) is observed compared to the beginning of the year.
Some 261.4 million manat ($153.8 million) or 60.3 percent accounted for the share of long-term loans in the Azerbaijani construction sector. This figure is by 11.8 million manat ($6.9 million) or 4.7 percent more compared to early October 2019. The loans in the amount of 132 million manat ($77.6 million) were issued in national currency while $129.4 million in foreign currency.
Short-term loans in the Azerbaijani construction sector amounted to 97.1 million manat ($57.1 million) or 22.4 percent of the total amount of loans in this sector. Some 44.5 million manat ($26.2 million) of that amount were issued in national currency while $52.6 million in foreign currency.
The loans were mainly issued to the private institutions both in national currency, amounting to 40.1 percent (176.5 million manat that’s $103.8 million) of the total lending to the construction sector, and in foreign currency - $182 million (42 percent).
The share of lending to the construction sector in lending to the real sector amounted to 2.9 percent, and this indicator increased by 0.2 percentage points compared to the previous year.
In general, the volume of lending to the Azerbaijani real sector as of October 1 amounted to 14.9 billion manat ($8.8 billion), increasing in annual terms by 630.7 million manat ($371 million) or 4.4 percent.
(1 USD = 1.7 AZN on Nov. 20)
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