BAKU, Azerbaijan, Sept.21
By Zeyni Jafarov - Trend:
Lending to the transport and communications sector in Azerbaijan has declined as of early August 2021, Trend reports citing the statistics of the Central Bank of Azerbaijan (CBA).
According to the CBA, this indicator amounted to 757.3 million manat ($445.4 million), down by 160.4 million ($94.3 million) or 17.5 percent compared to early August 2020 (917.7 million manat or $539.8 million).
At the same time, the share of transport and communications in lending to the real sector amounted to 4.9 percent, which is a decrease of 1.4 percent on annual basis.
In total, lending to the real sector of the economy of Azerbaijan in the first seven months of 2021 amounted to 15.4 billion manat ($9 billion), which is 782.4 million manat ($460.2 million) or 5.4 percent more than in the same period of 2020 (14.5 billion manat or $8.5 billion).
Of the total volume of lending to the sector, excluding loans issued by non-banking credit organizations and without consideration of problem loans, 114.5 million manat or $67.3 million (15.1 percent) were short-term loans. Of these, loans for 26.7 million manat ($15.7 million) were issued in national currency, and 87.8 million manat ($51.6 million) - in foreign currency, the CBA said.
The remaining 641.9 million manat or $377.6 million (84.9 percent) accounted for long-term loans, of which 131.1 million manat ($77.1 million) were issued in the national currency, and 510.8 million manat ($300.4 million) in foreign currency, added the CBA.
(1 USD = 1.7 AZN on Sept.21)
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