By Ayya Lmahamad
Some AZN 5.9 billion ($3.4bn) was directed to the fixed capital for the development of the socio- economic sector in the first half of 2020, local media reported with the reference to State Statistics Committee on July 23.
According to the statement, this is by 2.7 percent less than in the same period last year.
Out of all investment, 66.8 percent or AZN 3.97 billion ($2.3bn) were spent on production areas, AZN 1.3 billion ($764.7M) or 22.7 percent were spent on service areas, and 10.5 percent or AZN 626.1 million ($368.2M) were spent on construction of houses.
Moreover, investments in the oil and gas sector increased by 17.5 percent, while non- oil sector investment decreased by 15.5 percent.
Additionally, in the total value of capital investments, enterprises and organizations accounted for 61.6 percent, budget funds accounted for 22.2 percent, private funds for 6.2 percent, bank credits for 5.4 percent, extrabudgetary funds for 2.4 percent, and other funds for 2.2 percent.
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