BAKU, Azerbaijan, May 24. Investments in fixed assets in Azerbaijan last year amounted to over 18.2 billion manat ($10.7 billion), Trend reports.
According to the Chamber of Accounts of the country, the growth in real terms was 5.5 percent compared to the figure for 2021.
The growth of investments in fixed assets was observed in the public sector. Thus, investments in the non-oil sector from domestic sources grew by 17.2 percent.
Moreover, last year, investments from public funds amounted to 9.2 billion manat ($5.4 billion), which is 20.6 percent more year-on-year, while the double-digit growth of public funds in fixed assets resulted in an increase in the state's share in total investment to 50.7 percent.
According to the report on the execution of the state budget, in the specified year, 64.2 percent of investments, or about 5.9 billion manat ($3.4 billion), were provided at the expense of the state budget (including funds allocated for reconstruction work in Karabakh), which is 26.9 percent more year-on-year.
Meanwhile, the growth of investments in fixed assets of the previous year, according to the chamber, led to double-digit growth (by 13.4 percent) in the construction sector and contributed 0.8 percentage points to the overall economic growth of the country, while the growth of the non-oil sector - 1.3 percentage points.
