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Azerbaijan unveils investments in fixed assets on results of 4M2022

Finance Materials 16 May 2022 17:50 (UTC +04:00)
Azerbaijan unveils investments in fixed assets on results of 4M2022
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, May 16. Investments in fixed assets amounted to 3.6 billion manat ($2.1 billion) in Azerbaijan, from January through April 2022, which is 5.3 percent less than the same period in 2021, Trend reports with reference to the State Statistics Committee of Azerbaijan.

According to the committee, investments in the oil and gas industry decreased by 29.9 percent during this period, compared from January through April 2021, and in the non-oil sector - increased by 17.9 percent.

At the same time, 56.5 percent of investments in fixed assets, or 2.07 billion manat ($1.2 billion), fell in the production sector, 37.2 percent or 1.3 billion manat ($764.7 million) - services, 6.3 percent or 230.2 million manats ($135.4) - on the construction of residential buildings. . 73.1 percent of investments (2.689 billion manats) directed to fixed assets were internal funds.

A total of 2.7 billion manat ($1.6 billion) or 74.1 percent of the funds allocated to fixed capital, were spent on construction and installation work during a specified period.

In the total volume of funds directed to fixed capital, funds of enterprises and organizations amounted to 52.8 percent, budget funds - 34 percent, other funds - 4.2 percent, personal funds of the population - 7.4 percent, and bank loans - 1.6 percent.

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