BAKU, Azerbaijan, May 17
By Zeyni Jafarov - Trend:
Over 3.75 billion manat ($2.2 billion) were invested in the fixed assets from all financial sources for the development of the socio-economic sphere of Azerbaijan from January through April 2021, which is 8.7 percent less compared to the same period of 2020, Trend reports citing a report of the country’s State Statistical Committee.
According to the report, in the structure of investments, 2.72 billion manat ($1.6 billion), or 72.5 percent of funds fell on production areas, 726.3 million manat or $427.2 million (19.4 percent) - in service areas, 304 million manat or $178.8 million (8.1 percent) - for the construction of houses.
The volume of investments in the oil and gas sector decreased by 0.7 percent, and the volume of funds directed to the non-oil sector - by 15.2 percent, the committee stated.
“At the same time, over 2.13 billion manat ($1.25 billion), or 56.8 percent of funds allocated to fixed assets, accounted for domestic funds. Of the funds allocated to fixed assets, 2.72 billion manat ($1.6 billion), or 72.6 percent, fell on the implementation of construction and installation work,” the report reads.
Fixed assets accounted for 64.7 percent of the total value of capital investments of enterprises and organizations, budget funds - 15.6 percent, private funds - 7.2 percent, bank loans - 6.8 percent, and other funds accounted for 5.7 percent.
(1 USD = 1.7 AZN on May 17)
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