BAKU, Azerbaijan, July 22
By Zeyni Jafarov - Trend:
The volume of lending to the construction sector in Azerbaijan increased by 69.3 percent as of early June 2021 compared to the same period of last year, Trend reports with reference to the Central Bank of Azerbaijan’s (CBA) report.
The lending to the construction sector reached 721.9 million manat ($424.6 million) during the reporting period.
At the same time, the share of long-term loans in the construction sector accounted for 331.5 million manat $195 million (70.6 percent). Loans were issued in the national currency in the amount of 188 million manat ($110.6 million) while in foreign currency - in the amount of 143.5 million in manat equivalent ($84.4 million).
Short-term loans in the construction sector amounted to 138.1 million manat ($81.2 million) or 29.4 percent of the total lending to this sector. Some 81.1 million manat ($47.7 million) of that volume accounted for the loans in national currency while in foreign currency - 57 million in manat equivalent ($33.5 million).
The loans were mainly allocated to private organizations. At the same time, loans in national currency amounted to 57.3 percent (269.1 million manat $158.3 million) of the total lending to the construction sector while in foreign currency - 42.7 percent (200.5 million in manat equivalent to $117.9 million).
The share of construction in lending to the real sector amounted to 4.8 percent, which is 1.9 percent more than in the same period of 2020.
In general, lending to the real sector of the Azerbaijani economy in the first five months of 2021 amounted to 15.07 billion manat ($8.9 billion), which is by 301.4 million manat ($177.3 million) or two percent more than in the same period of last year.
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