BAKU, Azerbaijan, April 15
By Zeyni Jafarov - Trend:
The volume of lending to the construction sector in Azerbaijan amounted to 688 million manat ($404 million) by the end of February 2021, which is by 223.4 million manat ($131.4 million, or 48 percent) more than in the same period of 2020, Trend reports citing the reporting data of the Central Bank of Azerbaijan (CBA).
The share of long-term loans in the construction sector of Azerbaijan accounted for 325.9 million manat ($191.7 million or 47.4 percent).
The loans were issued in the national currency in the amount of 178 million manat ($104 million) while in foreign currency - 147.8 million manat ($86.9 million).
Short-term loans in the Azerbaijani construction sector amounted to 118.3 million manat ($69.6 million or 17.2 percent) of the total amount of loans in this sector. Some 60.6 million manat ($35.6 million) were issued in national currency, 57.8 million in foreign currency.
The loans were mainly issued to the private institutions: in national currency - 34.7 percent (238.6 million manat or $140.3 million) of the total amount of loans issued for the construction sector, while in foreign currency - 205.6 million manat ($120.9 million or 30 percent).
The share of lending to the construction sector in lending to the real sector amounted to 4.7 percent, which is by 1.7 percentage points more compared to the same period of 2020.
The lending to the real sector of the Azerbaijani economy in the reporting period of 2021 amounted to 14.6 billion manat ($8.6 billion), which is by 1.08 billion manat that’s $635 million or 6.9 percent less than in the same period of last year.
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