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Investments in Azerbaijan’s fixed capital increases by 3 percent

Business Materials 15 August 2014 15:27 (UTC +04:00)

Baku, Azerbaijan, Aug. 15

By Huseyn Valiyev -Trend:

Around 9.075.5 billion manat was invested in the development of economic and social spheres from all financial sources in Azerbaijan in January-July 2014, which is 3 percent more than in the same period of 2013, the Azerbaijani State Statistics Committee said on Aug. 14.

The volume of investments in construction work hit 72.7 percent of the total volume of investments. This growth rate was 13 percent.

Some 6.140.7 billion manat were invested in the construction of production facilities in January-July, while 2.934.8 billion manat - the facilities in the service sector.

Some 48.5 percent of investments accounted for the state enterprises, 51.5 percent - private enterprises.

Some 70.8 percent of the total investment accounted for domestic investments. Most domestic investments (65 percent) accounted for state enterprises and organizations, and 35 percent - for private enterprises.

Around 5.103.6 billion (56.2 percent of a total volume of investments) was invested in fixed assets at the expense of enterprises and organizations, 332.7 million manat (3.7 percent) - bank loans, 3.166.2 billion manat (34.9 percent) - budgetary funds, 161.2 million manat (1.8 percent) - non-budgetary funds, 253 million manat (2.8 percent) - personal funds of the population and 58.8 million manat (0.6 percent) - other funds.

Around 61.9 percent (5.622.2 billion manat) of investments in fixed capital focused on the development of non-oil sector, while 3.453.3 billion manat was invested in the oil sector.

Around 46 percent of investments accounted for industry, 19.6 percent - construction, 7.2 percent - public administration, 7.1 percent - sports, entertainment and arts, 3.9 percent - trade, 2.9 percent - education, 2.1 percent - agriculture, 1.7 percent - health care, 0.2 percent - real estate transactions, 0.8 percent - communication and information, 1.9 percent - rendering administrative and additional services, 0.1 percent - financial and insurance activity, 1.5 percent - tourist accommodation and catering sphere, according to the report.

The official exchange rate is 0.7843 AZN/USD on Aug. 15.

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