BAKU, Azerbaijan, Nov. 24
By Nazrin Israfilova - Trend:
The volume of loans issued to the transport and communications sector in Azerbaijan from January through October 2021 lowered, Trend reports citing the Central Bank of Azerbaijan (CBA).
According to the CBA, this figure amounted to 748.7 million manat ($440.4 million), down by 126.9 million manat ($74.6 million) or 14.5 percent, compared to the first ten months of 2020 (875.6 million manat or $515 million).
The share of the transport and communications sector in the total lending to the real sector was 4.6 percent (a decrease of 1.3 percent on annual basis).
Total lending to the real sector of the economy from January through October this year made up 16.4 billion manat ($9.6 billion), which is 1.63 billion manat ($960 million), or 11.02 percent more than in the same period of 2020 (14.7 billion manat or $8.6 billion).
The volume of short-term loans in the transport and communications sector, excluding loans issued by non-bank credit organizations and non-performing loans, amounted to 114.4 million manat ($67.3 million), or 15.3 percent of the total volume of loans issued to the sector. Of these, 26.2 million manat ($15.4 million) accounted for loans in manat currency and 88.2 million manat ($51.8 million) - in foreign currency.
Some 631.9 million manat ($371.7 million) accounted for long-term loans, which is 84.7 percent of the total volume of loans issued to the transport and communications sector. Of these, 130.1 million manat ($76.5 million) accounted for loans in national currency and 501.8 million manat ($295.1 million) in foreign currency.
(1 USD = 1.7 AZN on Nov. 24)