BAKU, Azerbaijan, Aug. 14
By Eldar Janashvili - Trend:
Over 7.5 billion manat ($4.4 billion) were invested in the development of the socio-economic sphere in Azerbaijan from all financial sources during the first seven months of 2020, Trend reports citing a report of the State Statistical Committee.
From January through July of this year, this figure increased by 2.6 percent compared to the same period of 2019. In the structure of investments, 5.1 billion manat ($3 billion) or 67.3 percent of the funds used were spent on production areas, 1.7 billion manat ($1 billion) or 23 percent - on service areas and 737.7 million manat ($433.9 million) or 9.7 percent - on the construction of houses.,
In the structure of investments, over 4.69 million manat ($2.75 million), or 61.8 percent of funds allocated to fixed assets, accounted for domestic funds. Meanwhile, 4.7 million manat ($2.76 million) or 62 percent of the funds allocated to fixed capital was spent directly on construction and installation work.
The volume of investments in the oil and gas sector increased by 22.9 percent, while the volume of funds directed to the non-oil sector dropped by 9.6 percent.
In the total value of capital investments, enterprises and organizations accounted for 59.7 percent, budget funds - 22 percent, off-budget funds - 2.1 percent, private funds - 5.8 percent, bank loans - 6.2 percent, other funds - 2.1 percent.
The volume of investments increased by 1.6 billion manat ($941.1 million) or 27.4 percent over the month.
(1 USD = 1.7 manat on Aug. 14)
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