BAKU, Azerbaijan, Feb.19
By Zeyni Jafarov – Trend:
The amount of investments in Azerbaijani economy in 2020, having decreased by 8.3 percent, amounted to 17 billion manat ($10 billion), Trend reports referring to the review of the monetary policy of the Central Bank of Azerbaijan (CBA).
In accordance with the CBA’s report, a total of 41.6 percent of investments accounted for the public sector while 58.4 percent - for the private sector. Over 11.2 billion manat ($6.6 billion) was transferred to the non-oil and gas sector (down by 12.3 percent compared to 2019).
Some 69.9 percent of investments in fixed capital were formed through internal sources while 30.1 percent - through external sources.
The funds from enterprises and organizations prevailed in the distribution of funds allocated for fixed capital upon financial sources.
So, over the past year, the share of funds of enterprises and organizations amounted to 50.4 percent compared to 52 percent in 2019.
This is followed by budget funds with a total share of 27.6 percent (a decrease of 0.7 percentage points) and bank loans - 6.2 percent (a decline of more than 2 times).
The share of personal funds of the population accounted for 5.7 percent, remaining unchanged compared to 2019. Other funds amounted to 8.6 percent, having increased by 10.8 times for the year.
Due to the consequences of the COVID-19 pandemic, which began to show itself in Azerbaijan from the end of the first quarter of 2020, there has been a contraction in domestic demand factors, which are the main driving force of economic growth.
---
Follow the author on Twitter: @jafarov_zeyni