BAKU, Azerbaijan, Feb.24
By Zeyni Jafarov- Trend:
The volume of lending to the communications and transport sector in Azerbaijan in 2020 amounted to 848.5 million manat ($499.1 million), Trend reports citing statistics from the Central Bank of Azerbaijan (CBA).
According to the CBA, this figure is by 355.8 million manat ($209.3 million) or 29.5 percent less compared to 2019.
Some 150.1 million manat ($88.3 million), or 17.7 percent, accounted for short-term loans. Some 24.1 million manat ($14.2 million) of that volume were issued in national currency, while 126.1 million - in foreign currency.
Some 697.7 million manat ($410.4 million), or 82.2 percent, accounted for long-term loans, which is by 290.6 million manat ($170.9 million), or 29.4 percent less than in 2019. The loans worth 239.8 million manat ($141.05 million) were issued in national currency, while 457.9 million manat ($269.3 million) in foreign currency.
The transactions carried out in foreign currency amounted to 68.8 percent (584 million manat that’s $343 million) of the total lending to the communications and transport sector.
The share of lending to the communication and transport sector in lending to the real sector amounted to 5.8 percent, which is by 2.1 percentage points less than in 2019.
In general, the volume of lending to the real sector in 2020 amounted to 14.5 billion manat ($8.5 billion), which shows a decline in annual terms of 767.8 million manat ($451.6 million), or five percent.
----
Follow the author on Twitter: @jafarov_zeyni