Deputy Minister: Average annual growth of foreign investments in Azerbaijan's economy to reach 13.9 per cent
Azerbaijan, Baku, April 17 / Trend H. Hasanov /
The investments in Azerbaijan's main capital will increase by 11.9 per cent and amount to $18.5 billion in 2012, Azerbaijani deputy economic development minister Niyazi Safarov said at a regional conference on industrial parks in Baku today. Capital expenditures from all sources are expected to reach $65.1 billion in 2015.
"About $ 5 billion of the total volume of capital investment through foreign investments this year will be ensured," he said. "The figure will increase to $21.2 billion in 2015."
He said that the average annual growth of foreign investments will hit 13.9 per cent.
The deputy minister added that economic growth is expected to hit 4.6 per cent in 2012.
Azerbaijan's nominal GDP is expected to reach $ 59.3 billion. The country's economic growth will hit 5.4 per cent in 2015. GDP per capita in 2012 is projected at over $7,000.
Azerbaijan's GDP increased by 3.7 times for 10 years and the state budget revenues have increased by 20 times.
Over $120 billion were invested in Azerbaijani economy since the country has gained independence.