BAKU, Azerbaijan, October 2. Iranian banks lent 788 trillion rials (about $18.7 billion) in the housing and construction sectors of the country for the first five months of the current Iranian year (March 21 through August 22, 2023), Trend reports.
The loans were allocated for various purposes in the housing and construction sector:
- Construction work: 493 trillion rials (about $11.7 billion);
- Working capital: approximately 238 trillion rials (about $5.65 billion);
- Development work: 43.2 trillion rials (about $1.03 billion);
- Purchase of housing: 11.7 trillion rials (about $280 million);
- Repair work: 1.17 trillion rials (about $27.9 million);
- Purchase of personal assets: 710 billion rials (about $16.9 million);
- Self-employment: 483 billion rials (about $11.5 million).
In total, the Iranian banks issued loans worth 14.7 quadrillion rials (about $350 billion) in various economic sectors within the first 5 months of the current Iranian year.
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