BAKU, Azerbaijan, March 18. The volume of loans issued by banks in the construction sector increased by 298.1 million manat ($175.3 million) in Azerbaijan in February 2022 or 43.3 percent compared to February 2021 up to 986.1 million manat ($580.05 million), Trend reports citing the Central Bank of Azerbaijan (CBA).
According to the CBA, in general, lending to the real sector of the Azerbaijani economy increased by 20.2 percent or 2.9 billion manat ($1.7 billion) in February 2022 compared to February 2021 from 14.2 billion manat ($8.3 billion) to 17.1 billion manat ($10.05 billion).
Short-term loans issued to legal entities in the construction sector amounted to 308.2 million manat ($181.3 million), of which 201.5 million manat ($118.5 million) accounted for loans in the national currency while 106.7 million manat ($62.8 million) in foreign currency.
Long-term loans issued to legal entities in the construction sector amounted to 402.7 million manat ($236.9 million) in February 2022, of which 276.6 million manat ($162.7 million) accounted for loans in the national currency while 126.1 million manat ($74.2 million) in foreign currency.
The share of the construction sector in lending to the real sector of the Azerbaijani economy amounted to 5.6 percent in February 2022, which is by 0.9 percent less than in February 2021.