BAKU, Azerbaijan, Feb.8
By Zeyni Jafarov – Trend:
The volume of lending to the energy, chemistry, and natural resources sector in Azerbaijan amounted to 524.5 million manat ($308.5 million) as of early January 2021, Trend reports on Feb.8 citing data from the Central Bank of Azerbaijan (CBA).
According to the CBA, this figure decreased by 94.9 million manat ($55.8 million) or 15.3 percent compared to the same period of 2020.
Some 15.8 million manat ($9.3 million) or 3 percent accounted for short-term loans. Around 600,000 manat ($352,941) were issued in national currency and 15.2 million manat ($8.9 million) in foreign currency.
Some 491.6 million manat ($289.2 million) or 93.7 percent accounted for long-term loans, i.e. by 85.6 million manat ($50.3 million) or 14.8 percent less compared to early January 2020.
Loans worth 700,000 manat ($411,764) were issued in national currency and 490.9 million manat ($288.7 million) fell on the foreign currency.
Most of all lending operations carried out in the sector fell on foreign currency, accounting for 96.5 percent (506.1 million manat, or $297.7 million) of the total lending to this sector.
The share of lending to the mentioned sector in lending to the Azerbaijani real sector amounted to 3.6 percent and this figure decreased by 0.4 percent points compared to the same period of 2020.
In general, the volume of lending to the Azerbaijani real sector amounted to slightly over 14.5 billion manat ($8.5 billion) as of early January, 2021, showing an annualized decline of 767.8 million manat ($451.6 million) or 5 percent.
(1 USD = 1.7 AZN on Feb.8)
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