BAKU, Azerbaijan, June 13. Investments in fixed assets amounted to 5.8 billion manat ($3.4 billion) from January through May 2023, which is 15.9 percent more compared to the same period of 2022, in Azerbaijan, Trend reports.
According to the State Statistics Committee of Azerbaijan, the volume of investments in the oil and gas sector increased by 18.9 percent, and in non-oil industries - by 14.2 percent.
A total of 58.6 percent of investments in fixed assets, or over 3.4 billion manat ($1.9 billion), fell on the production sector, 35.8 percent (2 billion manat or $1.1 billion) - the service sector, 5.6 percent (327.9 million manat or $192.8 million) - the construction of residential buildings. 73.6 percent of investments (over 4.3 billion manat or $2.5 billion) directed to fixed assets were domestic funds.
Over 4.1 billion manat ($2.4 billion), or 70.4 percent of the funds allocated to fixed assets, were spent on construction and installation works during the specified period.
In the total amount of funds allocated to fixed assets, the funds of enterprises and organizations amounted to 48.6 percent, budget funds – 35.6 percent, personal funds of the population – 6.7 percent, other funds – 5.7 percent, bank loans – 3.4 percent.
Investments in fixed assets amounted to 18.2 billion manat ($10.7 billion) in 2022, which is 5.5 percent more in comparison with 2021.