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Azerbaijan records decrease in lending to communications, transport sector

Finance Materials 21 April 2021 15:16 (UTC +04:00)
Azerbaijan records decrease in lending to communications, transport sector

BAKU, Azerbaijan, Apr. 21

By Zeyni Jafarov - Trend:

The volume of lending to the communications and transport sector of Azerbaijan amounted to 860.5 million manat ($506.1 million) as of early March 2021, Trend reports referring to the statistical data of the Central Bank of Azerbaijan (CBA).

According to the CBA, this figure is 26.6 percent less compared to the same period of 2020.

As reported, 135 million manat or $79.4 million (15.7 percent) of all loans were short-term loans. Of these, 26.1 million manat ($14.1 million) were issued in national currency, 108.9 million manat ($64 million) - in foreign currency.

The remaining 724.8 million manat ($426.3 million), or 84.2 percent, accounted for long-term loans. Loans worth 236.9 million manat ($139.3 million) were issued in national currency and 487.9 million manat ($287 million) in foreign currency.

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 69.4 percent (596.8 million manat or $351 million) of the total lending to the communications and transport sector.

As reported, the share of the communications and transport sector in lending to the real sector amounted to 5.9 percent, which is 1.6 percentage points less than in the same period of 2020.

The total volume of lending to the real sector as of early March 2021 amounted to 14.62 billion manat ($8.6 billion), which is 1.08 billion manat ($640 million) or 6.9 percent less year on year.

(1 USD = 1.7 AZN on Apr.21)

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