October 15, 2021 3:26 p.m. (UTC + 04:00)


By Ayya Lmahamad

The volume of investments in the Azerbaijani oil and gas sector decreased by 9.7% between January and September 2021, reported the State Statistics Committee.

At the same time, investments in the non-oil and gas sector also fell by 8% during the period considered.

Some AZN 9.5 billion ($ 5.6 billion) was spent on fixed assets in the first nine months of the year, down 8.7% from the corresponding period of 2020 .

Of this, AZN 6.4 billion ($ 3.7 billion) or 67 percent was spent on production areas, AZN 2.4 billion ($ 1.4 billion) or 25, 4 percent for service areas and AZN 727.2 million ($ 427.7 million) or 7.6 percent for residential building construction.

In addition, AZN 6.3 billion ($ 3.7 billion) or 65.9% of fixed assets were internal funds.

Some AZN 6.3 billion ($ 3.7 billion) or 66.8% of the funds allocated to fixed capital were spent on construction and installation works.

In addition, in the total value of fixed capital investments, funds from companies and organizations represented 56.9%, budgetary funds 22.3%, personal funds 7.1%, bank loans 6.3% and other funds 7.4%.

It should be noted that investments in the country’s oil and gas sector increased by 0.3% in 2020 while investments in the country’s non-oil and gas sector decreased by 12.3%.

Ayya ​​Lmahamad is the reporter for AzerNews, follow her on Twitter: @AyyaLmahamad

Follow us on twitter @AzerNewsAz

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