BAKU, Azerbaijan, August 10. Investments in Azerbaijan's fixed capital amounted to 9.1 billion manat ($5.3 billion) from January through July 2023, which is 20.8 percent more compared to the same period in 2022, Trend reports.
The amount of investments in the oil and gas industry climbed by 15%, while investments in non-oil businesses increased by 24.3%, according to the State Statistics Committee of Azerbaijan.
Over five billion manat ($2.9 billion) worth of fixed capital investments were made in the production sector, while 39.5 percent ($2.1 billion) were made in the service sector and 5.2 percent ($276.1 million) were made in residential building construction. Investments totaled $6.8 billion manat ($4 billion), or 75,5 percent of internal funds designated for fixed capital.
Construction and installation activities accounted for more than 6.6 billion manat ($3.8 billion), or 73.3 percent of the money allocated to fixed capital, from January through July of this year.
The funds of enterprises and organizations accounted for 44.7 percent, budget funds for 39.7 percent, personal funds of the population for 6.7 percent, other funds for 5.9 percent, and bank loans for three percent of the total amount of funds directed to fixed capital.
In 2022, investments in Azerbaijan's fixed capital amounted to 18.2 billion manat ($10.7 billion), which is 5.5 percent more than in 2021.
