BAKU, Azerbaijan, Dec. 9
By Zeyni Jafarov - Trend:
The volume of lending to the communication and transport sector in Azerbaijan as of early November 2020 amounted to 875.6 million manat ($515.3 million), Trend reports citing data from the Central Bank of Azerbaijan (CBA).
According to the CBA, this figure is by 288.4 million manat ($169.7 million) or 24.8 percent less compared to the same period of last year, and 25.6 percent or 301.9 million manat ($177.7 million) less than in early 2020.
Reportedly 158.8 million manat ($93.4 million) or 18.1 percent of loans accounted for short-term loans. Of these, 24.8 million manat ($14.6 million) were issued in national currency and 134 million manat ($78.8 million) in foreign currency.
The remaining 716.4 billion manat ($421.6 million) or 81.8 percent were long-term loans, and this figure is 271.9 million manat ($160 million) or 27.5 percent less compared to early November last year.
Loans worth 223.8 million manat ($131.7 million) were issued in national currency, and 492.6 million manat ($289.9 million) fell to the foreign currency.
Total transactions carried out in the foreign currency amounted to 71.6 percent (626.6 million manat, or $368.8 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 5.9 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 14.78 billion manat ($8.7 billion) as of November 1, showing annualized growth of 340.1 million manat ($200.18 million) or 2.35 percent.
(1 USD = 1.7 manat on Dec.9)
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