BAKU, Azerbaijan, Jan. 26
By Nazrin Israfilova - Trend:
The volume of loans issued for the industry and production sector decreased by 347 million manat ($204 million) or 0.13 percent in Azerbaijan in 2021 compared to the previous year from 1.2 billion manat ($705 million) to 903.2 million manat ($531.3 million), Trend reports citing the Central Bank of Azerbaijan (CBA).
The volume of loans issued for this sector amounted to 5.7 percent of the total lending to the real sector of the economy in the reporting period (decline by 2.9 percentage points for the year).
In general, the loans issued for the real sector of the Azerbaijani economy in 2021 increased by 17.67 percent or 2.5 billion manat ($1.5 billion) compared to 2020 from 14.1 billion manat ($8.3 billion) to 16.6 billion manat ($9.8 billion).
The volume of loans issued to legal entities in the industry and production sector increased by 13.5 percent or 114 million manat ($67 million) in 2021from 847.9 million manat ($498.8 million) to 960.2 million manat ($564.8 million).
Short-term loans issued to legal entities in this sector, excluding non-bank credit organizations and excluding problem loans, reach 193.2 million manat ($113.6 million), of which 146.8 million manat ($86.3 million) were issued in manat while 46.4 million manat ($27.3 million) in foreign currency.
Long-term loans issued to legal entities accounted for 767 million manat ($451 million) or 82.47 percent of the total volume of loans issued for the industry and production sector. The loans worth 555.1 million manat ($326.5 million) out of that volume were issued in manat while 211.9 million manat ($124.6 million) in foreign currency.