BAKU, Azerbaijan, April 9
By Zeyni Jafarov - Trend:
The volume of lending to the trade and services sector in Azerbaijan exceeded 2.5 billion manat ($1.5 billion) by late February 2021, Trend reports citing a statistics report of the Central Bank of Azerbaijan (CBA).
According to the CBA, this figure is by 9.6 million manat ($5.6 million), or 0.4 percent less compared to late February 2020.
Some 704.3 million manat ($414.3 million), or 28 percent of the total volume, accounted for the short-term loans. Some 519.1 million manat ($305.3 million) of this volume were issued in national currency, $185.2 million in foreign currency.
Thus, 1.8 billion manat ($1.05 billion), or 71.6 percent, accounted for the long-term loans. Loans in the national currency were issued in the amount of 1.1 billion manat ($647 million) while the share of foreign currency accounted for 644.7 million manat ($379.2 million).
Loans in this sector were mainly issued to private institutions, and operations were carried out mainly in national currency, amounting to 66.6 percent (1.7 billion manat that’s $1 billion) of the total amount of lending to the trade and services sector.
The share of lending to the trade and services sector in lending to the real sector amounted to 17.2 percent, having increased by 1.1 percentage points for the year.
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