Azerbaijan unveils 11M2020 volume of fixed capital investments

Finance Materials 11 December 2020 15:36 (UTC +04:00)
Azerbaijan unveils 11M2020 volume of fixed capital investments

BAKU, Azerbaijan, Dec.11

By Zeyni Jafarov -Trend:

Azerbaijan allocated 12.7 billion manat ($7.4 billion) to the fixed capital from all financial sources for the development of the country’s socio-economic sphere in the past 11 months of 2020, Trend reports citing the State Statistical Committee of Azerbaijan.

According to the committee, this figure dropped by 4 percent year on year.

In the structure of investments, over 8.3 billion manat ($4.8 billion) or 65.9 percent of funds were spent on production areas, 3.2 billion manat ($1.8 billion) or 25 percent - service areas, and 1.16 billion manat ($680 million) or 9.1 percent - on the construction of houses.

At the same time, the volume of investments in the oil and gas sector increased by 8.4 percent over the year, while investments in the non-oil sector decreased by 11 percent.

In the total value of capital investments, enterprises and organizations accounted for 57.9 percent, budget funds - 24.2 percent, private funds - 6.2 percent, bank loans - 6.8 percent, extra-budgetary funds - 1.6 percent, and other funds - 3.3 percent.

The volume of capital investments from January through November this year increased by 1.18 billion manat ($690 million) compared to the same period of 2019.