BAKU, Azerbaijan, Aug.16
By Zeyni Jafarov - Trend:
Lending to the transport and communications sector in Azerbaijan has declined in the first six months of 2021, Trend reports citing the statistics of the Central Bank of Azerbaijan (CBA).
According to the CBA, this indicator amounted to 820.9 million manat ($482.8 million), which is 10.4 percent less on annual basis.
“Of the total volume of lending to the sector, 115.2 million manat or $67.7 million (14 percent) were short-term loans. Of these, loans for 27.4 million manat ($16.1 million) were issued in national currency, and 87.8 million manat ($51.6 million) - in foreign currency,” the CBA said.
“The remaining 704.8 million manat or $414.6 million (86 percent) accounted for long-term loans, of which 184.2 million manat ($120.9 million) were issued in the national currency, and 520.7 million manat ($306.3 million) in foreign currency,” the report said.
Lending in this period was mainly provided to private institutions, and operations were carried out mainly in foreign currency. Loans in foreign currency amounted to 608.5 million manat ($357.9 million) or 74.2 percent of the total lending to the sector.
At the same time, the share of transport and communications in lending to the real sector amounted to 5.4 percent, which is a decrease of 0.9 percent on annual basis.
In total, lending to the real sector of the economy of Azerbaijan in the first half of 2021 amounted to over 15.2 billion manat ($8.9 billion), which is 707.4 million manat ($416.1 million) or 4.9 percent more than in the same period of 2020.
(1 USD = 1 AZN on Aug.16)
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