Investments in Azerbaijan’s IT sector increases
Baku, Azerbaijan, Oct. 26
By Huseyn Veliyev – Trend:
Volume of funds invested in the sector of information and communication technologies and postal service of Azerbaijan amounted to 209.8 million manats (1.6291 AZN/USD on Oct. 26) in January-September 2016, said the country’s First Deputy Minister of Communications and High Technologies Ali Abdullayev.
He made the remarks during the ministry board’s meeting dedicated to the results of the nine months of 2016.
Abdullayev said that during the period, the volume of investments in the IT sector increased by 2.2 times compared to January-September 2015 and accounted for 1.8 percent of the total volume of investments in the country’s economy.
“Investments through the ministry amounted to 25.5 million manats. Meanwhile, revenues obtained by the ministry’s structural units totaled 252 million manats during the period,” noted the first deputy minister.
Abdullayev also said that the projected tariff revenue was executed with a deficit of 4.9 percent.
During the nine months of 2016, Azerbaijan’s Ministry of Communications and High Technologies transferred 44 million manats to the state budget, 19 million manats – to the State Social Protection Fund that is, respectively, by 48.8 and 33 percent more than in the same period of 2015, he added.
In January-September 2016, receivables on the ministry increased by 18 million manats – to 142 million manats, while accounts payable decreased by 44 million manats and amounted to 156 million manats, added the first deputy minister.