Investments in fixed assets of Azerbaijan increased by 61.2%

15:21 - 14.02.2023

February 14, Fineko/abc.az. Finances for AZN 1.09 bn were directed for the fixed capital in Azerbaijan this January (61.2% more against January 2022.

ABC.AZ reports with reference to the State Statistics Committee that investments in the oil & gas sector decreased by 8.8%, and the finances directed for the non-oil & gas sector grew 2.5-fold.

Of the finances used, AZN 506.2 million or 46.4% were spent on production, AZN 529 million (48.4%) on services, and AZN 56.5 million (5.2%) on construction of residential buildings.

Of the finances directed for fixed assets, domestic finances amounted to AZN 812.1 million or 74.4%. AZN 844.2 million, or 77.3% of the funds directed for fixed assets were spent directly on construction & installation works.

In the total cost of funds directed for fixed assets, the finances of enterprises and organizations made up 41.2%, budget funds 47.7%, population’s personal funds 6%, bank loans 2.9%, other funds 2.2%.