BAKU, Azerbaijan, May 18
By Zeyni Jafarov - Trend:
The value of lending to the trade and services sector in Azerbaijan reached 2.52 billion manat ($1.48 billion) as of early April 2021, growing by 0.4 percent compared to April 2020, Trend reports referring to a statistics report of the Central Bank of Azerbaijan (CBA).
According to the CBA, 691.8 million manat ($406.9 million), or 27.5 percent of the total volume, accounted for the short-term loans. Some 502.2 million manat ($295.4 million) of this volume were issued in national currency and $189.6 million in foreign currency.
Thus, 1.82 billion manat ($1.07 billion), or 72.2 percent, accounted for the long-term loans. Loans in the national currency were issued in the amount of 1.19 billion manat ($700 million) while the share of foreign currency accounted for 621.1 million manat ($365.3 million).
Loans in this sector were mainly issued to private institutions, and operations were carried out mainly in national currency, amounting to 67.4 percent (1.69 billion manat or $990 million) 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 17.1 percent, having increased by 1.1 percentage points for the year.
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