Over $90 billion to be invested in Azerbaijan

Over $90 billion to be invested in Azerbaijan

Azerbaijan, Baku, Nov 13 /Trend A.Akhundov/

Investments from all sources in the Azerbaijani economy will amount to 71.8 billion manat in 2013-2016, Economic Development Minister Shahin Mustafayev said during discussion of the draft state budget for 2013 and next 3 years on Tuesday.

"Some 32.7 billion manat will be invested in the country's economy, 21 billion manat of which will account for infrastructure projects, 8.7 billion manat - transportation projects," Mustafayev said.

He added that 4.8 billion manat will be directed for the municipal infrastructure projects. A gasification of the cities and regions of the country will be completed; water, sewer and heating lines in urban and regional centers will be reconstructed.

"It is planned to invest 5.7 billion manat for the implementation of energy and industrial projects in this period, socially responsible projects - 5.1 billion manat," Mustafayev said.

The Azerbaijani government expects real growth of investment in the country at 17.3 percent in 2013. In 2010, the real growth was recorded at 21.2 per cent, in 2011 - 27.3 percent, and it is expected to reach 17.3 percent in 2012 the same as in 2013.

However, in 2014, the government expects the reduce of investments in Azerbaijan by 1.9 percent, and then again return to growth: 1.2 percent in 2015 and 0.9 per cent - in 2016.
Investments are expected to reach 15.218 billion manat in 2012, in 2013 - 18 billion manat, in 2014 - 17.672 billion manat, in 2015 - 17.932 billion manat, in 2016 - 18.189 billion manat.

The official exchange rate on November 13 is 0.7850 AZN/USD.

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