Nakhchivan posts 29% increase in lending

From January through September this year, 213.22 million manats ($125.4 million) of loans were issued in the Nakhchivan Autonomous Republic of Azerbaijan, Report informs, citing the local Statistics Committee.

According to the committee, this figure is 29.2% higher than a year ago.

Of the loans issued, 17.554 million manats ($10.3 million), or 8.2%, were short-term, 195.5 million ($115 million), or 91.8%, were long-term. In yearly comparison, the volume of short-term loans decreased by 4.3%, while the volume of long-term loans increased by 48.9 million manats ($28.8 million) or 33.4%.