According to Dagestan branch of the National Bank, this figure grew by 5.4%. The most active borrowers are construction companies, trade, manufacturing and agricultural enterprises. The growth of construction loans (a 30.8% share in the total volume of loans to business) is due, among other things, to the high demand for housing in conditions of increased tourist flow.

"Borrowed funds allow enterprises to finance both their current activities and the implementation of investment projects" - Svetlana Batsyna, Deputy Head of the Bank of Russia's office across the Republic of Dagestan says.