BAKU, Azerbaijan, Feb.1
By Zeyni Jafarov – Trend:
The demand of commercial banks in Azerbaijan made up 14.93 billion manat ($8.78 billion), or 20.6 percent of the country's GDP as of early January 2021, Trend reports on Feb.1 referring to the statistical report of the Azerbaijani Central Bank (CBA).
According to the CBA, this figure demonstrates a decrease by 0.7 percent, or 102.5 million manat ($60.3 million), compared to the figure as of early January 2020.
Besides, this figure declined in December 2020 by 206.7 million manat or $121.6 million (1.4 percent), added the CBA.
As earlier reported, S&P Global Ratings expects that the share of commercial banks in Azerbaijan in GDP will gradually decrease in 2021 and 2022 and will amount to 20.5 percent and 19.6 percent, respectively, and in 2023 it will remain at 19.6 percent.
(1 USD = 1.7 AZN on Feb.1)
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