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Investments in Azerbaijani non-oil sector to increase in long-term perspective

Business Materials 27 October 2011 18:44

Azerbaijan, Baku, Oct. 27 / Trend N. Ismayilova /

The aggregate investment in Azerbaijan's economy will amount to 17.479 billion manat in 2015, the draft state budget for 2012 and the next three years, presented for consideration to the Azerbaijani Parliament said. The increase in investments will amount to 4.8 percent compared to 2014.

This figure is projected at 13.492.6 billion manat (with growth of 9.7 percent) in 2012, in 2013 - 15.205.9 billion manat (11.6 percent) in 2014 - 16.676.1 billion manat (9 2 percent).

Domestic investments in 2012 are projected at 9.479.2 billion manat (with growth of 0.3 percent), in 2013 - 9.902.2 billion manat (3.6 percent), in 2014 - 10.586.7 billion manat (5 9 percent), in 2015 - 10.872.2 billion manat (2.6 percent).

Foreign investments are projected at 4.013.4 billion manat (with growth of 41.5 percent) in 2012, in 2013 - 5.303.7 billion manat (30.4 percent), in 2014 - 6.089.4 billion manat (15,4 percent), in 2015 - 6.606.9 billion manat (8.4 percent).

Investments in non-oil sector are projected at 9.224.7 billion manat in 2012, in 2013 - 9.728.3 billion manat, in 2014 - 11.101.4 billion manat, in 2015 - 12.425.9 billion manat.

Non-state investments are projected at 6.039.8 billion manat in 2012, in 2013 - 7.624.9 billion manat, in 2014 - 8.721.3 billion manat, in 2015 - 9.150.2 billion manat.

The priorities of the main directions of state investment policy for 2012-2015 were determined: bringing the investment projects in line with the priorities and objectives of socio-economic development, medium and long-term state programs, the investments to develop non-oil sector and regions, the prioritization of regional investment policy accordance with modern development trends. The priorities also include such points as strengthening the social directions of investment activity in the country, prioritization of investments in human capital and infrastructure, ensuring economic security, the investment in the development of nanotechnologies in the country, high-tech projects, strengthening the national defense of the country.

The official exchange rate is 0.7869 AZN/USD

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