In 2008 total amount of public investments exceeds 4 billion manat in Azerbaijan

Business Materials 17 January 2009 12:40 (UTC +04:00)

Azerbaijan, Baku, Jan. 17/ Trend N. Ismaylova/

In 2008 total volume of state run investments in Azerbaijan totaled 4.2 billion manats, 60% of these means were invested in infrastructure projects, 20% to social projects, Minister of Economic Development Shakhin Mustafayev said at the meeting of Cabinet of Ministers headed by Azerbaijan's President Ilham Aliyev and dedicated to social economic results of 2008.

 "It demonstrates again that the government conducts practical actions to branch economy and to develop non oil sector," Mustafayev said.

The investments in the amount of 38 billion manat were deposited to develop economy for the last 5 years. Thus, domestic investments totaled 16 billion manat of this amount but foreign ones - 22 billion. The share of domestic investments totaled 25% in 2003 but this index totaled 75% in 2008.

The investments in non oil sector were increased by 6.2 times for the last 5 years and their total share was increased from 26.8% to 69% for 5 years.

On Jan. 17, the official exchange rate is 0.8039 manat to $ 1.

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