State investment programme cost will exceed $9 billion in Azerbaijan in 2014
Azerbaijan, Baku, Oct. 17 / Trend E. Aliyev /
The state investment volume in Azerbaijan is expected to hit 7.37 billion manat in 2014, the draft state and consolidated budget of Azerbaijan for 2014 and the next three years, published by the Ministry of Finance, said today.
It is planned to allocate 6.26 billion manat from the state budget and 1.11 billion manat more will be delivered through external borrowing and 1.92 billion from the State Oil Fund of Azerbaijan.
Around 4.74 billion manat of these funds are planned to be spent for infrastructure projects and 1.86 billion manat for social projects. Another 775 million manat will be spent on the reconstruction of areas, the elimination of consequences of emergency situations, as well as institutional and other projects.
According to the priorities of the country's socio-economic development, in 2014 public investments will primarily focus on the completion of current projects in the fields of industry, transport, energy, agriculture, construction and restoration of art and cultural facilities, defence, ensuring the national security and the protection of Azerbaijan's borders, as well as projects envisaged by the various programme.
Also the construction, repair and renovation of sports facilities required in connection with holding the first European Olympiad in the country is earmarked to be carried out.
According to the forecasts, the investment volume is expected to be reduced in the coming years. For example, the state investment programme amount is projected at 5.24 billion manat in 2015 and 4.66 and 4.18 billion manat in 2016 and 2017.
The official exchange rate is 0, 7843 AZN/USD on Oct. 17.