Investments In Non-Oil, Gas Sector Up By 18.5 Pct

(MENAFN– AzerNews)

By Ayya Lmahamad

The volume of investments in Azerbaijan’s non-oil and gas sector
increased by 18.5 percent in January-June 2022, Azernews reports,
citing the State Statistics Committee.

Meanwhile, investments in the oil and gas sector decreased by
20.7 percent in the first half of the year.

Some AZN6.2 billion ($3.7bn) were directed to fixed capital
which is 0.7 percent more than in the corresponding period of
2021.

Of this, AZN3.7 billion ($2.2bn) or 60 percent was spent on
production areas, AZN2.1 billion ($1.2bn) or 33.8 percent on
service areas, and AZN387.1 million ($227.7m) or 6.2 percent on the
construction of residential buildings.

Furthermore, AZN4.6 billion ($2.7bn) or 74.5 percent of fixed
assets were internal funds.

Some AZN4.5 billion ($2.6bn) or 72.5 percent of the funds
directed to the fixed capital was spent on construction and
installation works.

In the total value of fixed capital investments, funds of
enterprises and organizations accounted for 53.2 percent, budget
funds for 31.2 percent, personal funds for 7.6 percent, bank
credits for 3 percent, and other funds for 5 percent.

Investments in the country’s oil and gas sector increased by 5.6
percent in 2021 while investments in the non-oil and gas sector in
the country decreased by 9.6 percent.

Ayya Lmahamad is AzerNews’ staff journalist, follow her on
Twitter: @AyyaLmahamad

Follow us on Twitter
@AzerNewsAz

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