BAKU, Azerbaijan, July 13
By Zeyni Jafarov - Trend:
Lending to the supply of electricity, gas, steam and water in Azerbaijan surged as of early June 2021, Trend reports citing the Central Bank of Azerbaijan (CBA).
According to the CBA, this indicator amounted to 264.8 million manat ($155.7 million), soaring by 11.2 times compared to early June 2020.
At the same time, long-term loans accounted for 256.3 million manat ($150.7 million), or 96.8 percent of the total lending to the sector. In the national currency, loans were issued for 1 million manat ($588,000), and in foreign currency - for 255.3 million manat ($150.1 million), the CBA said.
Short-term loans amounted to 8.5 million manat ($5 million), or 3.2 percent of the total lending to the sector. Of these, loans in national currency accounted for 300,000 manat ($176,470), and in foreign currency – 8.2 million manat ($4.8 million), the bank noted.
The loans were mainly allocated to state-owned enterprises in foreign currency, and they accounted for 99.5 percent or 263.5 million manat ($155 million) of the total lending to the sector. The share of loans in the national currency made up 0.5 percent or 1.3 million manat ($760,000).
Lending to the real sector of the economy of Azerbaijan in the first five months of 2021 totaled slightly over 15 billion manat ($8.82 billion), which is increase of 301.4 million manat ($177.3 million), or 2 percent year on year.
(1 USD = 1.7 AZN on July 13)
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