About $20 bln invested in Azerbaijani economy in 2011
Azerbaijan, Baku, Jan. 17 / Trend N. Ismayilova /
The investments in Azerbaijan's economy totaled $ 20 billion in 2011. About $ 13 billion fell to the domestic investment, Minister of Economic Development Shahin Mustafayev said at a meeting of the Cabinet of Ministers dedicated to the socio-economic development in 2011 and the challenges for 2012, held under the chairmanship of President Aliyev.
"About $15.7 billion of total investment fell to the share of non-oil sector, $4.3 billion - oil sector," he said. "About 5.9 billion manat was invested in transport, ICT, tourism, municipal, irrigation, energy , ecological and other spheres through the state capital investments. About 1.7 billion manat was invested in social projects."
Mustafayev said that about 11 loan agreements worth $ 1.7 billion were signed in 2011 within the cooperation with international financial institutions to develop the transport, energy, telecommunications, agriculture, social and other fields.
"The Azerbaijani investments made in the economy of other countries amounted to $6 billion," he said. "The visits were made to the Balkans and North Caucasus region of Russia in 2011. The relations established within these visits will enhance the opportunity of national companies' investments in the economy of the foreign countries."