Investment in financial sector of Azerbaijan sharply reduced

Baku. 28 June. REPORT.AZ/ In January-May of this year, financial and insurance activities accounted for only 0.2 million AZN or 0,004% of funds from all sources of financing fixed assets in Azerbaijan. Last year, this figure made 17.8 million AZN or 0.3%.

Report informs citing the official statistics, compared to last year, a sharp decline of investment was observed in this sphere. Thus, the volume of investments decreased by 89.7% compared to the same period of last year.

Notably, in January-May of this year 5 388.8 million AZN allocated to the main capital on development of the economic and social spheres from all financial sources. 4 591.1 million AZN (85.2%) of the amount was spent on construction of production facilities, 601.5 million AZN (11,2%) - facility services, 196.2 million AZN (3.6%) - residential buildings with total area of 554.5 thousand sq.m.

Investments in the public sector accounted for 22.7%, private sector - 77.3% of total investments. 69.1% of funds allocated in fixed assets was spent on construction and assembly works.