BAKU, Azerbaijan, Sept. 13
By Zeyni Jafarov - Trend:
The volume of loans issued to the industry and production sector in Azerbaijan decreased by 273.3 million manat ($160.7 million) by August 2021, or 23 percent, from almost 1.2 billion manat ($705.8 million) to 917.8 million manat ($539.8 million), Trend reports, citing statistical data of the Central Bank of Azerbaijan (CBA).
The volume of loans issued to this sector amounted to 6 percent of the total lending to the real sector (a decline of 2.2 percentage points over the year).
In general, lending to the real sector of the economy from January through July 2021 increased by 782.4 million manat ($460.2 million), or by 5.4 percent, compared to the same period of 2020, that is, from 14.5 billion manat ($8.5 billion) to 15.4 billion manat ($9 billion).
Short-term loans in this sector, excluding the amounts issued by non-bank credit organizations and non-performing loans, amounted to 181.2 million manat ($106.5 million), which is 20 percent of the total volume of loans issued to the industry and production sector, of which 142.7 million were issued in manat currency ($83.9 million), and 38.5 million manat ($22.6 million) were issued in foreign currency.
Long-term loans accounted for 724.8 million manat ($426.3 million), or 80 percent of the volume of loans issued to the industry and production sector. Of these, loans in the amount of 499.5 million were issued in manat currency ($293.8 million), and 225.3 million manat ($132.5 million) in foreign currency.
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