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Investments in Non-Oil Sector Increased by nearly 75%

Business Materials 18 April 2008 18:29

Azerbaijan, Baku, 15 April /corr. Trend I.Khalilova / According to the State Statistics Committee, in the first quarter of 2008, a total of 1 409.2mln manats have been invested at the expense of enterprises and organizations, or 21.4% more than 2007. The private enterprises and organizations allocated AZN 664.9mln (47.2% of all investments) and Public organizations - AZN 744.3mln (52.8%).

The investments for repair and construction works amounted to AZN 789.3mln, an increase of 34.8%. AZN 1200.3mln (85.2%) have been invested in the construction of production facilities and AZN 208.9mln (14.8%) - non-production facilities.

Special weight of foreign investments made up 40.3% and totaled AZN 568.3mln. Internal investments constituted AZN 840.9mln (59.7%).

AZN 711.1mln was allocated for the oil sector (50.5%) and AZN 698.1mln (49.5%) - non-oil sector. The investments for the non-oil sector increased by 74.4% as compared to the same period of 2007.

Of the investments allocated over the reported period, about 56.1% was invested in development of industry spheres, 2% - agriculture, 0.2% - trade and services, 25.1% - transport, 1.3% - communications, 5.4% - construction of buildings, 1.1% - education, 1.8% - health care and 7% - other spheres.

Some AZN 467.6mln (16.6% of investments for 2008) was invested in the construction of the facilities financed by Public budget. 

Major sources of investing were funds of enterprises (AZN 794.4mln with specific weight of 56.4%), banking credits (AZN 25.4mln, 18%), budget funds (AZN 480.3mln, 34.1%), non-budgetary funds(AZN 72.7mln, 5.2%), community funds (AZN 35.8mln, 2.5%) and others (AZN 0.6mln). 

The correspondent can be contacted at :[email protected]

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