By Ayya Lmahamad
The volume of investments in Azerbaijan’s oil and gas sector decreased by 2.1 percent in January-May 2021, the State Statistics Committee has reported.
Investments in the non-oil and gas sector also declined by 7.9 percent in the reported period.
Some AZN 4.9 billion ($2.8bn) was directed to fixed capital in the first five months of the year, which is by 5.3 percent less than in the corresponding period of 2020.
Of this, AZN 3.3 billion ($1.9bn) or 69.1 percent was spent on production areas, AZN 1.1 billion ($672.4M) or 23.3 percent on service areas and AZN 371.6 million ($218.5M) or 7.6 percent on the construction of residential buildings.
Furthermore, AZN 2.9 billion ($1.7bn) or 60.3 percent of fixed assets were internal funds.
Some AZN 3.2 billion ($1.5bn) or 67 percent of the funds directed to the fixed capital was spent for construction and installation works.
Moreover, in the total value of fixed capital investments, funds of enterprises and organizations accounted for 61.5 percent, budget funds for 18.1 percent, personal funds for 6.9 percent, bank credits for 6 percent and other funds for 7.5 percent.
It should be noted that investments in the country’s oil and gas sector increased by 0.3 percent in 2020. Meanwhile, investments in the non-oil and gas sector in the country decreased by 12.3 percent.
Ayya Lmahamad is AzerNews’ staff journalist, follow her on Twitter: @AyyaLmahamad
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