BAKU, Azerbaijan, April 14
By Fidan Babayeva - Trend:
The volume of investments in the Azerbaijani non-oil sector amounted to 5.5 billion manat ($3.2 billion) in 2019, or 31.9 percent of the total investment volume, Trend reports on April 14 referring to a report on the activity of the Azerbaijani Cabinet of Ministers in 2019 submitted to the Azerbaijani parliament.
In accordance with the report, compared to the previous year, the volume of investments in the Azerbaijani non-oil sector increased by 1.9 percent, while in the non-oil industry - by 23 percent.
Some 69.8 percent of investments in fixed assets were formed through internal sources, 30.2 percent through external sources in 2019.
The total investment volume in fixed assets in the non-oil sector amounted to 68.1 percent, or 11.7 billion manat ($6.9 billion) for the reporting year. In turn, 3.1 billion manat that’s $1.8 billion (26.8 percent) of the total investment volume in the non-oil sector was transferred to the development of the non-oil industry, the report said.
The funds of enterprises and organizations transferred to the fixed assets amounted to 8.9 billion manat ($5.2 billion) in 2019. The growth reached 1 percent compared to the previous year.
Investments in fixed assets amounted to 17.2 billion manat ($10.1 billion) in 2019, which is 2.3 percent less than in 2018. This decrease was connected with a decrease in investments in the oil and gas sector.
(1 USD = 1.7 AZN on April 14)
----
Follow the author on Twitter: Fidan_Babaeva