Investments played important role in growth of economy - Vusal Gasimli

16:55 - 23.12.2022

December 23, Fineko/abc.az. Investments have played an important role in the growth of the economy.

ABC.AZ reports that the statement was made by Vusal Gasimli, the executive director of the Center for Analysis of Economic Reforms & Communications.

"In 2003-2021, the volume of funds directed to fixed capital soared by 2.7 times, including funds for construction and installation works by 4.1 times. In 2004-2021, a total of $288.9 billion was invested in Azerbaijan. Considering this year's indicators, about $300 billion were invested in Azerbaijan over the past 19 years. Foreign investments rose by 2.2 times. Foreign investment in the amount of $142.0 billion dollars was made in Azerbaijan in 2004-2021. Investments in non-oil and gas fields went up by 7.2 times. In 2004-2021, $179.5 billion were invested in Azerbaijan's non-oil and gas sector. In the reporting period, the total volume of investments made by Azerbaijan in the economies of other countries amounted to $28.3 billion. At the same time, lending jumped 25.5 times,” Gasimli said.