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Azerbaijan discloses fixed capital receipts from foreign investments

Finance Materials 19 April 2021 15:57 (UTC +04:00)
Azerbaijan discloses fixed capital receipts from foreign investments

BAKU, Azerbaijan, Apr.19

By Zeyni Jafarov –Trend:

Around 1.13 billion manat ($660 million) was directed to fixed assets in Azerbaijan from foreign enterprises and organizations in the first quarter of 2021, Trend reports referring to a report of the State Statistical Committee.

According to the report, the given figure decreased by 7.6 percent year on year.

As reported, 89.3 percent, or 1.01 billion manat ($590 million), of funds directed to fixed assets from foreign countries and international organizations fell on investors from Turkey, the UK, the US, Norway, Japan, France, and Malaysia.

Totally, over 2.3 billion manat ($1.3 billion) was directed to the fixed capital from all financial sources for the development of the socio-economic sphere of Azerbaijan during the first 3 months of 2021. Of these, 1.76 billion manat ($1.04 billion), or 74.5 percent of the funds, was spent on production areas, 398.2 million manat ($234.2 million) or 16.8 percent - on service areas, and 205.2 million manat or $120.7 million (8.7 percent) - on the construction of houses.

In 2020, over 17 billion manat ($10 billion) was directed to the development of the socio-economic sphere of Azerbaijan last year from all financial sources, which is 8.3 percent less than in 2019.

(1 USD = 1.7 manat on Apr.19)

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