Investments in Azerbaijan Increases by 40%
Azerbaijan, Baku, 17 November /corr. Trend N.Ismaylova / Nearly AZN 7171.3mln was invested in the economy of Azerbaijan over the past ten months of 2008, an increase of 38.4% from the figures of the last year.
According to the State Statistics Committee, a total of 2796.8mln manats (39% of all investments) has been invested by the private enterprises and AZN 4374.5mln (61%) by Public enterprises, State Statistics Committee said.
The investments for repair and construction works totaled AZN 4544.7mln, increasing by 55.6%. AZN 5366.4mln was allocated for the construction of production facilities (74.8%) and AZN 1804.9mln for the non-production facilities (25.2%).
Foreign investments amounted to AZN 1875mln with specific weight of 26.1% of all investments, while the internal - AZN 5296.3mln 73.9%. Internal investments increased by 75.4%, while foreign investments reduced by 13.2%. Some 79.8% of the internal investments was allocated for Public enterprises and 20.2% - private structures.
Of the investments, AZN 2303.6mln was allocated for the oil sector (32.1%) and AZN 4867.7mln (67.9%) - non-oil sector. The investments for the non-oil sector increased by 94.2% as compared to the same period of 2007.
Of the investments allocated, some 44.6% was invested in development of industry spheres, 3.6% - agriculture, 0.9% - trade and services, 23.5% - transport, 1.8% - communications, 7.5% - construction of buildings, 3.8% - education, 2% - health care and 12.3% - other spheres.
Some AZN 2754.8mln (63.7% of investments for 2008) was invested in the construction of the facilities being financed by Public budget.
Major sources of investing were funds of enterprises and organizations (AZN 3350.6mln with 46.7% specific weight), banking credits (AZN 235.2mln, 33%), budget funds (AZN 2891.7mln, 40.3%), non-budgetary funds(AZN 480.5mln, 6.7%), community funds (AZN 208.5mln, 2.9%), other (AZN 4.8mln, 0.1%).
Official rate on 17 November is 0.8098 AZN/USD.
The correspondent can be contacted at: [email protected]