Investments in Azerbaijan's economy grows by 8%

Investments in fixed assets in Azerbaijan made up nearly 11.8 billion manats ($6.94 billion) from January through October 2022, which is 8.2 per cent more than in the same period last year.

In annual terms, investments in the oil and gas sector went down by 13.5 per cent, while investments in the non-oil and gas sector rose by 23.8 per cent, Report informs citing the country’s State Statistical Committee.

In the structure of funds spent, 6.59 billion manats ($3.87 billion) or 55.9 per cent fell on the production sector, 4.46 billion manats ($2.62 billion) or 37.9 per cent - on services, and 731.6 million manats ($430.3 million) or 6.2 per cent - on the construction of residential buildings.

Internal funds amounted to 9.04 billion manats ($5.31 billion) or 76.8 per cent, and 8.67 billion manats ($5.1 billion) or 73.6 per cent were spent on construction and installation works.

Of the funds allocated to fixed capital, the share of funds of enterprises and organizations amounted to 49.2 per cent, budget funds - 36.3 per cent, personal funds of the population - 7.8 per cent, other funds - 3.9 per cent, and bank loans - 2.8 per cent.