BAKU, Azerbaijan, June 12
By Eldar Janashvili – Trend:
To develop the socio-economic sphere of Azerbaijan, 4.9 billion manat ($2.9 billion) was allocated from all financial sources to the fixed capital from January through May 2020, which is by 2.8 percent more compared to the same period of 2019, Trend reports citing the Azerbaijani State Statistics Committee.
Over the reporting period, 3.3 billion manat ($1.9 billion), or 66.9 percent of the used funds was spent on production facilities, 1.1 billion manat ($647 million) or 22.7 percent – on service areas, and 509.8 million manat ($299.9 million) or 10.4 percent - on the construction of houses.
Some 2.9 million manat ($1.7 million) or 58.9 percent of the funds allocated to fixed assets accounted for internal funds, 2.9 million manat ($1.7 million) or 60.4 percent of the funds allocated to fixed assets were spent directly on construction and installation work.
The amount of investments in the oil and gas sector increased by 19.8 percent while the volume of funds allocated for the non-oil sector decreased by 16.7 percent.
In the total cost of capital investments, 62.1 percent accounted for enterprises and organizations, 21.4 percent – for budget funds, 2.4 percent - for extrabudgetary funds, 6.5 percent - for private funds, 5.4 percent - for bank loans and 2.2 percent - for other banks.
During May 2020, the volume of investments increased by 1 billion manat ($588.2 million).
(1 USD = 1.7 manat on June 12)
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