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Azerbaijan discloses share of long-term loans in construction sector for Jan.2021

Finance Materials 9 March 2021 14:46 (UTC +04:00)
Azerbaijan discloses share of long-term loans in construction sector for Jan.2021

BAKU, Azerbaijan, Mar.9

By Zeyni Jafarov – Trend:

The value of lending to the Azerbaijani construction sector in January 2021 made up 527.1 million manat ($310 million), Trend reports citing the data from the Central Bank of Azerbaijan (CBA).

According to the CBA, this figure is 60.5 million manat ($35.6 million) or 13 percent more compared to January 2020.

Some 321.2 million manat ($188.9 million) or 60.9 percent of the total lending accounted for the share of long-term loans. The loans in the amount of 172.4 million manat ($101.4 million) were issued in national currency while $148.9 million manat ($87.6 million) in foreign currency.

Short-term loans in the Azerbaijani construction sector amounted to 101 million manat ($59.4 million) or 19.2 percent of the total amount of loans in this sector. Some 48.3 million manat ($28.4 million) of that amount were issued in national currency while $52.7 million ($31 million) in foreign currency.

The loans were mainly issued to the private institutions both in national currency, amounting to 41.9 percent (220.7 million manat that’s $129.8 million) of the total lending to the construction sector, and in foreign currency - $201.6 million manat or $118.6 million (38.2 percent).

The share of lending to the construction sector in lending to the real sector amounted to 3.6 percent, and this indicator grew by 0.6 percentage points compared to January last year.

In general, the volume of lending to the Azerbaijani real sector amounted to 14.53 billion manat ($8.5 billion) in January 2021.

(1 USD = 1.7 AZN on Mar.9)

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