Azerbaijan increases state investments by 38.9 percent per year
Azerbaijan, Baku, Oct. 26 / Trend A. Akhundov /
The investment costs of the Azerbaijani consolidated budget increased by 38.9 percent or 1.116 billion manat for the first nine months of 2011 compared to the same period of last year. The figure hit 3.985 billion manat, Finance Minister Samir Sharifov said during a meeting of the Cabinet of Ministers chaired by President Aliyev and dedicated to the socio-economic development for the first nine months of 2011.
He said that about 3.281 billion manat of these expenses were transferred through the state budget, 32.2 million manat - the budget of the Nakhchivan Autonomous Republic, 335.6 million manat - the State Oil Fund of Azerbaijan, 336.2 million manat - at the expense of external loans.
About 394 million manat of these funds were used to construct and reconstruct educational, health, cultural and sports facilities, as well as other social, cultural and residential facilities.
About 37 million manat were transferred to build houses and social facilities for war invalids, families of martyrs and other individuals in this category, 31 million manat - construction and reconstruction of sports facilities in the regions.
"About 761 million manat were allocated to construct and reconstruct energy, water-supply, gas, communal, melioration infrastructure," he said. About 119 million manat were allocated to create and reconstruct irrigation and drainage infrastructure, as well as the infrastructure to provide drinking water, 102 million manat - to reconstruct electricity distribution networks in Baku and regions and 150 million manat - measures on gasification."
About 20 million manat were allocated from the state budget to implement the state program on creation and development of space industry in Azerbaijan.
Sharifov said that 1.176 billion manat were transferred to the transport sector of the country during the period, of which 768 million manat - to finance infrastructure projects relating to road transport and highways, 136 million manat - to develop and expand Baku Metro, 216 million manat - "Azerbaijan Railways", 46.6 million manat - to purchase ferries by Azerbaijan State Caspian Shipping Company.
"According to the President's decrees, about 147 million manat were allocated from the presidential reserve fund for nine months to implement important social and infrastructure projects, including 30 million manat - to accelerate the socio-economic development," he said.