Investments in Azerbaijan's fixed capital down in 1Q2019

Finance Materials 15 May 2019 14:11 (UTC +04:00)

Baku, Azerbaijan, May 15

By Kheyraddin Nasirzade - Trend:

In January-April 2019, investments worth 3.9 billion manats were made from all financial sources in the development of economy and social sphere in Azerbaijan, which is 5.9 percent less than in the same period of 2018, Trend reports referring to the Azerbaijani State Statistical Committee.

According to the committee's report, 69.9 percent of investments in fixed assets were spent on construction and installation work. Of the total investment in the construction sector, 64.5 percent accounted for the construction of producing facilities, 26.5 percent - facilities in the service industries, 9.0 percent - construction of residential buildings with a total area of 595,600 square meters.

Investments from domestic sources accounted for 69.4 percent of all. Among all sources of investment, 60.7 percent of the funds were allocated by enterprises and organizations, budget funds accounted for 25.6 percent, personal funds of the population amounted to 6.4 percent, bank loans - 5.8 percent, extra-budgetary funds - 1.2 percent, the remaining funds - 0.3 percent.

In January-April 2019 the following facilities were put into operation: Center for Real Estate Services of the State Committee on Property Issues in Baku, SOCAR Carbamide Plant in Sumgayit, Polyethylene plant, Olympic Sports Complex in Beylagan district, History Ethnography Museum,highways Mardakan - Gala, Mingachevir - Mingechevir Station - Bahramtapa - Beylagan and Kebirli - Eyvazalilar - Birinji Ashigli - Alinazarli, two secondary schools for 1,170 students in Nakhchivan AR, preschool educational institution for 200 students, two outpatient clinics capable of receiving up to 35 people at the same time, 260-bed hospital in Shamkir district and other important facilities.


Follow the author on Twitter: @1nasirzade