Azerbaijan reveals data on investments in socio-economic development
BAKU, Azerbaijan, May 16
By Eldar Janashvili - Trend:
To develop the socio-economic sphere of Azerbaijan, 3.9 billion manat ($2.2 billion) was allocated from all financial sources to the fixed capital from January through April 2020, Trend reports citing the State Statistical Committee (SCC) of Azerbaijan.
Over the reporting period, 2.6 billion manat ($1.5 billion), or 67.2 percent of the used funds was spent on production facilities, 875.2 million manat ($514.8 million) or 22.4 percent – on service areas, and 406 million manat ($238.8 million) or 10.4 percent - on the construction of houses.
Some 2.34 million manat ($1.37 million) or 59.9 percent of the funds allocated to fixed assets accounted for internal funds, 2.38 million manat ($1.4 million) or 61.1 percent of the funds allocated to fixed assets were spent directly on construction and installation works.
Meanwhile, about 64.2 percent of all investments in the amount of 2.5 billion manat ($1.4 billion) was spent on production of goods, 23.8 percent or 928.2 million manat ($546 million) – on services, and 12 percent or 468 million manat ($275.2 million) – on the construction of residential buildings.
In the total cost of capital investments, 66.9 percent accounted for enterprises and organizations, 17.7 percent – for budget funds, 8 percent - for extrabudgetary funds, 6.4 percent - for private funds, 4.5 percent - for bank loans, and 2.7 percent - for other banks.
During April 2020, the volume of investment increased by 1 billion manat ($588.2 million).
(1 USD = 1.7 AZN on May 16)
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