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Azerbaijan sees 37-fold surge in long-term lending over 8 years

Azerbaijan sees 37-fold surge in long-term lending over 8 years

07 May 2009 16:34 (UTC +04:00)

Baku. Nijat Mustafayev â€“ APA-Economics. Long-term lending has grown by 37.4% from AZN 130 million in 2000 to AZN 4 867.4 million in 2008, said the State Statistical Committee.

According to statistics, long-term loans account for 67.9% of total loans in 2008 while the share was 28% in 2000.

Despite a year-by-year rise in short-term loans, the share of short-term loans dropped from 72% in 2000 to 32.1% in 2008.

The amount of short-term loans increased by 6.8 times to AZN 2 295.9 million over the past 8 years.

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