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Azerbaijan's fixed capital revenues from foreign investments down in 7M2021

Finance Materials 18 August 2021 17:59 (UTC +04:00)
Azerbaijan's fixed capital revenues from foreign investments down in 7M2021

BAKU, Azerbaijan, Aug.18

By Zeyni Jafarov - Trend:

The volume of funds allocated to fixed capital in Azerbaijan by foreign enterprises and organizations decreased in the first seven months of 2021, Trend reports on Aug.18 referring to the State Statistical Committee.

According to the committee, this showing amounted to nearly 2.6 billion manat ($1.5 billion), down 10.4 percent year on year.

Some 93.3 percent of funds (2.4 billion manat or $1.4 billion), directed to the fixed capital in Azerbaijan from foreign countries and international organizations from January to July 2021, accounted for investors from Turkey, UK, US, Switzerland, Norway, Japan, Russia, Iran, France, and Malaysia compared to the same period of last year.

In general, slightly over 7 billion manat ($4 billion) were allocated to fixed capital from all financial sources for the development of the socio-economic sphere of Azerbaijan during the reporting period. More than 4.8 billion manat ($2.8 billion) or 69.2 percent of that volume accounted for the construction of production areas, over 1.6 billion manat ($940 million) or 23.2 percent - construction of service areas, and 537.3 million manat ($316 million) or 7.6 percent - for construction of houses.

Some 17.03 billion manat ($10.01 billion) was directed to the development of the Azerbaijani socio-economic sphere last year from all financial sources, which is 8.3 percent less than in 2019.

(1 USD = 1.7 AZN on Aug.18)

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