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Azerbaijan unveils volume of Jan.2021 investments in country's socio-economic dev't

Business Materials 11 February 2021 17:06
Azerbaijan unveils volume of Jan.2021 investments in country's socio-economic dev't

BAKU, Azerbaijan, Feb. 11

By Fidan Babayeva - Trend:

As much as 724 million manat ($425.8 million) of funds were allocated to the fixed capital from Azerbaijan's all financial sources to develop the country's socio-economic sphere in January 2021, Trend reports referring to the State Statistical Committee.

According to the committee, this figure is 27.5 percent less than in the same month of 2019. About 583 million manat ($342.9 million) or 80.5 percent of all investments were spent on the production areas, 80.7 million manat ($47.4 million) or 11.2 percent on service zones and 60.3 million manat ($35.4 million) or 8.3 percent on the construction of residential buildings.

The volume of investments in the oil and gas sector decreased by 15.1 percent, and the volume of funds directed to the non-oil sector - by 38.8 percent.

Of the total amount of capital investments, enterprises and organizations provided 71.7 percent, budget funds accounted for 2.7 percent, private funds – 8.5 percent, bank loans – 16.3 percent, and other funds - 0.8 percent.

Slightly over 17 billion manat ($10 billion) of funds were allocated for fixed capital from all financial sources to develop Azerbaijan's socio-economic sphere.

(1 USD = 1.7 AZN on Feb.11)

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