Investments in Azerbaijan's economy down 32%

From January through February 2021, 1.33 billion manats ($787.7 million) was directed to fixed assets in Azerbaijan, 32% less than in the same period last year, Report informs, citing the country’s State Statistical Committee.

Over the past year, investments in the oil and gas and the non-oil sectors decreased by 13.5% and 49%, respectively.

In the structure of total investments, 80% (1.071 billion manats or $630.49 million) were directed to the construction of production facilities, 11% (146.8 million manats or $86.4 million) to service sector facilities, 9% (120.4 million manats or $70.8 million) to residential buildings.

From internal sources, 678.4 million manats ($399.29 million) or 50.7% of total investments were directed to fixed assets, over 1.14 billion manats ($672.8 million) or 85.4% of funds were spent on construction and installation work.

In the total volume of investments in fixed assets, funds of institutions and organizations accounted for 74%, bank loans for 9.7%, personal funds of the population for 9.1%, other funds for 3.8%, budget funds for 3.4%.