Capital investment in Azerbaijan’s economy increases by 7% - UPDATED

In January-March 2020, AZN 2,929,000,000 was directed to fixed capital from all financial sources for the development of economic and social sectors of the country, up 6.5% from the previous year, Report informs citing the State Statistical Committee (SCC).

Of this, AZN 1,442.6 million fell to share of the oil and gas sector, AZN 1,486.8 million to share of non-oil and gas sector, which are, respectively, up 29.3% more, and 9.1% less than a year ago.

According to the SSC, 69% or AZN 2,021,000,000 of investment was made in production fields, 21.1% or AZN 619.7 million in services, 9.9% or AZN 288.7 million in construction of residential houses. Domestic investments constituted 58.2% or AZN 1,7035 million of total investments. AZN 1,684.3 million or 57.5% was spent on construction and installation works.

In the structure of the investments in fixed capital, 66.9% was funds of enterprises and organizations, 4.5% - bank loans, 17.7% - budget funds, 6.4% - private funds, 1.8% - off-budget funds and 2.7% - other funds.