BAKU, Azerbaijan, June 30
By Zeyni Jafarov - Trend:
The net financial assets on loans and borrowings in Azerbaijan decreased by $4.9 million as of the first quarter of 2021, the Central Bank of Azerbaijan (CBA) told Trend.
There is an increase of $454.9 million in net financial assets on deposits and currency.
The net financial liabilities on loans and borrowings during the reporting period decreased by $80.6 million while net financial liabilities on deposits and cash currency decreased by $49.9 million.
"The indicator of Azerbaijan's financial obligations on loans and borrowings was reduced due to the decline in direct state loans in the amount of $80.6 million, loans with a state guarantee in the amount of $20.9 million, credit operations of banks with an indicator of $3.5 million and also through lending to the oil and gas sector in the amount of $58.8 million and through loans issued to the firms and other enterprises in the amount of $43.8 million," the CBA added.
Despite the decline in reserve assets by $1.3 billion as of the first quarter of 2020, these assets increased by $325.9 million during the first three months of 2021.
Earlier, the head of the CBA Elman Rustamov said that a surplus is expected to be observed in the current account of Azerbaijan's balance of payments by the end of 2021.
-----
Follow the author on Twitter: @jafarov_zeyni