BAKU, Azerbaijan, Mar. 24
By Zeyni Jafarov - Trend:
The volume of lending to the communications and transport sector of Azerbaijan amounted to 832.2 million manat ($489.5 million) in February 2021, Trend reports citing a statistical report of the Central Bank of Azerbaijan (CBA).
According to the CBA, this figure is 345.3 million manat ($203.1 million), or 29.3 percent, less compared to the same period of 2020.
As reported, 141 million manat or $82.9 million (16.9 percent) of all loans were short-term loans. Of these, 24.1 million manat ($14.1 million) were issued in national currency, 116.9 million manat ($68.7 million) - in foreign currency.
"The remaining 690.5 million manat ($406.1 million), or 83 percent, accounted for long-term loans. Loans worth 237.9 million manat ($139.9 million) were issued in national currency, and 452.6 million manat ($266.2 million) in foreign currency," the report reads.
"Lending for this period in this sector was mainly provided to private institutions, and operations were carried out mainly in foreign currency. In total, operations carried out in foreign currency amounted to 68.4 percent (569.5 million manat or $335 million) of the total lending to the communications and transport sector," the report said.
As reported, the share of the communications and transport sector in lending to the real sector amounted to 5.7 percent, which is 1.9 percentage points less than in the same period of 2020.
In total, the volume of lending to the real sector by early February 2021 amounted to 14.5 billion manat ($8.53 billion). The largest share of loans in Azerbaijan during the reporting period fell on households - 6.78 billion manat ($3.98 billion), which amounted to 46.5 percent of the total volume of lending to the real sector.
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