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Azerbaijan issues data on lending to communications, transport sector for 11M2020

Finance Materials 20 January 2021 10:31
Azerbaijan issues data on lending to communications, transport sector for 11M2020

BAKU, Azerbaijan, Jan. 20

By Zeyni Jafarov - Trend:

The volume of lending to the communications and transport sector in Azerbaijan amounted to 857.9 million manat ($504.6 million) from January through November 2020, Trend reports on citing statistics of the Central Bank of Azerbaijan (CBA).

According to the CBA, this figure is 350 million manat ($205.8 million), or 29 percent less compared to the same period of 2019. Since the beginning of 2020, this figure has decreased by 27.1 percent, or 319.6 million manat ($188 million).

As reported, 159.3 million manat ($93.7 million) or 18.6 percent of loans were short-term loans. Of these, 26.3 million manat ($15.4 million) were issued in national currency, 133 million manat ($78.2 million) - in foreign currency.

The remaining 698.1 million manat ($410.6 million), or 81.4 percent, accounted for long-term loans, and this figure is 290.2 million manat ($170.7 million), or 29.4 percent less than in early December 2019. Loans worth 227.7 million manat ($133.9 million) were issued in national currency, and 470.4 million manat ($276.7 million) were issued in foreign currency.

In total, operations carried out in foreign currency amounted to 70.3 percent or 603.4 million manat ($354.9 million) of the total lending to the communications and transport sector.

The share of lending to the communications and transport sector in lending to the real sector amounted to 5.8 percent, which is 2.2 percentage points less than in the same period in 2019.

Totally, the volume of lending to the real sector by December 1, 2020, amounted to 14.6 billion manat ($8.58 billion), which indicates an annualized decline of 435.1 million manat ($255.9 million), or 2.9 percent.

(1 USD = 1.7 AZN on Jan. 20)

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