BAKU, Azerbaijan, Aug. 12
By Zeyni Jafarov - Trend:
Lending to the construction sector in Azerbaijan increased by 75.2 percent in the first half of 2021, compared to the same period of 2020, and reached 737.3 million manat ($433.9 million), Trend reports citing a report of the Central Bank of Azerbaijan (CBA).
“At the same time, the share of long-term loans accounted for 324.4 million manat or $190.8 million (68.7 percent). Loans worth 194.8 million manat ($114.5 million) were issued in the national currency, and in foreign currency - 129.7 million manat ($76.3 million),” the report said.
“Short-term loans in the construction sector amounted to 147.5 million manat ($86.7 million), or 31.3 percent of the total lending to this sector. Of these, loans in national currency accounted for 87.2 million manat ($51.3 million), and in foreign currency - 60.3 million manat ($35.4 million),” the report said.
Loans were mainly allocated to private institutions. At the same time, loans in national currency amounted to 59.7 percent or 282 million manat ($165.8 million) of the total lending to the construction sector, in foreign currency - 40.3 percent or 190 million manat ($111.7 million).
From January through June 2021, the share of construction in lending to the real sector amounted to 4.8 percent, which is 1.9 percent more compared to the same period of 2020.
In total, lending to the real sector of the Azerbaijani economy in the reporting period amounted to 15.2 billion manat ($8.94 billion), which is 707.4 million manat ($416.1 million) or 4.9 percent more compared to the same period of last year.
(1 USD = 1.7 AZN on Aug. 12)
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