BAKU, Azerbaijan, June 11
By Zeyni Jafarov - Trend:
The lending to the construction sector increased by 50.4 percent in Azerbaijan as of early May 2021 compared to the same month of last year, Trend reports citing a report made by the Central Bank of Azerbaijan (CBA).
Lending to the construction sector reached 688.8 million manat ($405.2 million).
Long-term loans in the construction sector accounted for 311.1 million manat $183 million (45.2 percent). Loans were issued in the national currency in the amount of 187.5 million manat ($110.3 million) while in foreign currency - 123.6 million manat ($72.7 million).
Short-term loans in the construction sector amounted to 128.4 million manat ($75.5 million), or 18.6 percent of the total lending to this sector. Some 73.5 million manat ($43.2 million) of that volume accounted for loans in national currency while in foreign currency - 55 million manat ($32.3 million).
The loans were mainly issued to private institutions. At the same time, loans in national currency amounted to 37.9 percent (261 million manat $153.5 million) of the total amount of lending to the construction sector while in foreign currency - 25.9 percent (178.6 million manat $105.05 million).
The share of lending in this sphere in lending to the real sector amounted to 4.6 percent as of early May 2021, which is by 1.6 percent more than in the same month of 2020.
In general, lending to the real sector of the Azerbaijani economy as of early May 2021 amounted to 14.9 billion manat ($8.8 billion), which is by 159.3 million manat ($93.7 million) or 1.1 percent less than in the same month of last year.
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