BAKU, Azerbaijan, Aug. 9
By Zeyni Jafarov - Trend:
Lending to trade and services in Azerbaijan totaled over 2.55 billion manat ($1.5 billion) in the first half of 2021, which is 6.8 percent more compared to the same period of 2020, Trend reports with reference to the statistical report of the Central Bank of Azerbaijan (CBA).
According to the report, short-term loans accounted for 724.4 million manat ($426.1 million), or 28.4 percent of the total volume of lending. At the same time, loans in national currency accounted for 500.3 million manat ($294.3 million), and in foreign currency - 224.2 million manat ($131.8 million).
Long-term loans accounted for 1.82 billion manat ($1.07 billion), or 71.6 percent of the total volume of issued loans. Loans in the national currency were issued in the amount of 1.26 billion manat ($741.2 million), in foreign currency - 562.2 million manat ($330.7 million).
During this period, loans in this area were mainly allocated to private institutions and mainly in the national currency (1.76 billion manat or $1.04 billion, which makes up 69.2 percent of the total lending to the sector).
The share of lending to trade and services in lending to the real sector amounted to 16.8 percent, having increased by 0.3 percent over the year.
---
Follow the author on Twitter: @jafarov_zeyni