The Azerbaijani government changed the policy regarding investment allocations to the economy of the country and confirms the increasing of the amount of capital allocations in 2007.
The amount of the investments in 2006 is forecasted at AZN 5.9 billion, a government source told Trend. In upcoming years, it is planned to decrease the share of the foreign investments, but according to recent data, an inverse process is observed. If in 2006 the amount of the foreign investments is expected at AZN 3.5 bln, in 2007 the amount of the foreign investments is reported at AZN 2.6 bln while the gross amount of investments is estimated at AZN 5.5 bln. However, the foreign investments have
been described at AZN 4.6 bln in the final variant of macroeconomic forecasts while the gross amount of the investments is in amount of AZN 8.8 bln, with an increase of 49.2%.
The preliminary forecasts were established on the base of the issue that the investments allocated to the oil and gas projects have decreased because they are already under realization. The largest project Baku-Tbilisi-Ceyhan pipeline has already been put into exploitation. However, in relation with the activation of economical processes in the country, the plans regarding creation of new productions in non-oil sector, the Economic Development ministry decided to reconsider the forecasts on investments. At the same time, the increase of the investments at the expense of internal sources is observed.