Azerbaijan, Baku, 15 April / Trend / In the first quarter of 2008, a rise in Azerbaijan's non-oil sector comprised 11.3%, Heydar Babayev, the Minister for Economic Development, said on 14 April during a meeting of the Cabinet of Ministers dedicated to the socio-economic development of the country in the first quarter of 2008.
Babayev said that over the first quarter the lump industrial growth in Azerbaijan constituted 12.9%. An increase in the industrial sector was 3.5%. Cargo transportation of Azerbaijan rose by 12.8%, whilst communications services increased by 45.9% and monetary services to the public by 29.5%. The investments in major capital rose by 21.4% in the first quarter.
Babayev said that the forecast on the income of the budget was over-fulfilled by 11% to AZN 1.98bln with an increase of AZN 897.5mln over January to March 2007. During the first quarter, budget expenses made up AZN 1.4bln, confirming the fulfillment of this indicator by 75.7%. The figure is up by AZN 538mln compared to January to March 2007.
"As a result, in the first quarter, surplus of the budget made up AZN 612mln," the minister said.
In the first quarter of 2008 the Caspian International Investment Company (CIIC), established by the Azerbaijan Investment Company and Islamic Corporation for Development, set up business in Azerbaijan. Over the subsequent two years the CIIC plans to attract $70mln to Azerbaijan's non-oil sector.