Over 70% of capital investments account for foreign funds in Azerbaijan

Business Materials 25 February 2016 09:28 (UTC +04:00)

Baku, Azerbaijan, Feb. 25

By Anvar Mammadov - Trend:

Around 880.7 million manat was invested from all financial sources in the development of the economic and social areas of Azerbaijan in January 2016 or by 29 percent more than in the same period of 2015, the Azerbaijani State Statistics Committee's report as of January 2016 said.

The investments in construction and installation work amounted to 73 percent of the total investments in January.

The investments worth 772 million manat were made in the construction of production facilities, while 65.7 million manat in the non-production facilities, 43 million manat - housing construction.

Some 28.5 percent of the total investments accounted for the domestic investments.

Some 761.4 million manat was invested in fixed assets (86.4 percent of total investments) through the funds of enterprises and organizations, bank loans - 58.3 million manat (6.6 percent), budget funds - 17.2 million manat (two percent), off-budget funds - 11.5 million manat (1.3 percent), personal funds of the population - 30.8 million manat (3.5 percent) and other assets - 1.5 million manat (0.2 percent).

Some 23.3 percent (205.2 million manat) of the investments made in fixed capital were directed to the development of the non-oil sector. Some 675.5 million manat (76.7 percent) were invested in the country's oil sector.

Some 78 percent of investments accounted for the industrial spheres, 13.3 percent - construction, 6 percent - transport and warehousing, 0.4 percent - information and communication, 0.1 percent - tourist accommodation and catering, 0.1 percent - services in other areas, the scientific and technical work, 07 percent - state governance, 1.2 percent - agriculture, fishery, forestry, the report said.

As of Feb. 25, the official exchange rate is 1.5612 AZN/USD.