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Investments in socio-economic sphere of Azerbaijan rise

Finance Materials 14 September 2020 16:00
Investments in socio-economic sphere of Azerbaijan rise

BAKU, Azerbaijan, Sept. 14

By Fidan Babayeva - Trend:

For the development of the socio-economic sphere of Azerbaijan, 8.6 billion manat ($5 billion) were allocated from all financial sources from January through August 2020, Trend reports citing the report of the State Statistical Committee.

During the reporting period, the given figure increased by 7 percent compared to the same period of 2019. In the structure of investments, 5.8 billion manat ($3.4 billion) or 67.1 percent of the funds used were spent on production areas, 2.04 billion manat ($1.2 billion) or 23.4 percent - on service areas and 822.3 million manat ($483.7) or 9.5 percent - on construction of houses.

In the structure of investments, 5.3 billion manat ($3.1 billion), or 61.7 percent of funds allocated to fixed assets, accounted for domestic funds. Also, 5.3 billion manat ($3.1 billion) or 61.6 percent of funds allocated to fixed assets were spent directly on construction and installation work.

At the same time, the volume of investments in the non-oil sector rose by 19 percent over the year, while the amount of funds allocated to the non-oil sector dropped 10.5 percent.

In the total value of capital investments, enterprises and organizations accounted for 59.4 percent, budget funds accounted for 22.7 percent, extra-budgetary funds - 2 percent, private funds - 5.8 percent, bank loans - 6.1 percent, other funds - 4 percent.

(1 USD = 1.7 manat Sept. 14)

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