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Growth of total investments in Azerbaijan's economy to hit almost 10 percent in 2012

Business Materials 12 October 2011 12:25

Azerbaijan, Baku, Oct.12 / Trend, N. Ismayilova /

In 2012, total investments in Azerbaijan's economy is forecasted at 13.5 billion manat, which is 9.7 percent more than the figure expected in 2011, according to a draft of Azerbaijan's state and consolidated budget for 2012 and three subsequent years, posted on the Finance Ministry's official website on Tuesday.

According to expectations for 2011, the total volume of investments into the country's economy will reach 12.3 million manat.

The share of domestic investments in the total volume of investments in 2012 is forecasted at 70.3 percent, and external at 29.7 percent. Some 68.4 percent of the total volume of attracted investments will be directed to the non-oil sector. In 2012, state investments are forecasted at 7.5 billion manat, and they will prevail in the total volume of investments. Private investment will hit 44.8 percent of the total volume of investments, and their share will be increased.

It is forecasted that in 2012 exports will amount to $26.6 billion, where 92.4 percent in total exports will be ensured by the oil and gas sector. Imports are forecasted at $9.7 billion.
The official exchange rate is 0.7868 manat to $1 on Oct.12.

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