Azerbaijan reveals figures on investment in its fixed assets
BAKU, Azerbaijan, May 27
By Eldar Janashvili - Trend:
The volume of investments from external sources in Azerbaijan’s fixed assets amounted to 1.2 billion manat ($705.8 million) in the first quarter of 2020, Trend reports citing the Central Bank of Azerbaijan (CBA).
This amount is 41.8 percent of total investments directed to the country's fixed assets.
According to CBA, the country also continued to invest in fixed assets from foreign enterprises and organizations. Most of the funds allocated to fixed assets by foreign countries and international organizations belonged to investors from the UK, Turkey, Russia, Iran, the US, Japan, Malaysia, Switzerland and Norway.
Cash receipts in Azerbaijan in the first quarter of 2020 amounted to $188 million.
During the reporting period, the country's strategic currency reserves continued to exceed internationally accepted standards of sufficiency.
By the end of 1Q2020, the country's strategic currency reserves reached a 34-month volume of imports of goods and services, taking into account the import of goods and services at the end of 2019.
Strategic reserves of the country exceeded the money supply in manat (M2) by 5.1 times.
(1 USD = 1.7 manat on May 27)
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