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Investments in Azerbaijan's oil sector increase

Finance Materials 20 January 2021 05:01
Investments in Azerbaijan's oil sector increase

BAKU, Azerbaijan, Jan. 20

Trend:

Some 17.03 billion manat ($10.01 billion) were allocated from all financial sources for the development of the Azerbaijani socio-economic sphere in 2020, which is by 8.3 percent less than in 2019, Trend reports citing the data from the Azerbaijani State Statistics Committee.

In the structure of investments, 11.2 billion manat ($6.6 billion) or 65.6 percent of funds were spent for the production areas, 4.5 billion manat that’s $2.6 billion (26.4 percent) - for service areas, 1.4 billion manat that’s $823 million (8 percent) - for building of houses.

The volume of investments in the oil and gas sector increased by 0.3 percent, while the volume of funds directed to the non-oil sector decreased by 12.3 percent.

The fixed assets accounted for 50.4 percent in the total value of capital investments of enterprises and organizations, budget funds - 27.6 percent, private funds - 5.7 percent, bank loans - 6.2 percent, extra-budgetary funds - 1.5 percent and other funds - 8.6 percent.

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