During three quarters, 2015 $5.7 billion has been invested directly into the Azerbaijani economy from abroad and 88.2% of all investments fell to the oil and gas industry, reads the payment balance posted on the web site of the Central Bank (CBA).
Direct investments into the Azerbaijani economy decreased by 1.72% against January-September 2014. From January to September 2014 this index totaled $5.8 billion.
These investments have been used to fund big oil and gas projects in Azerbaijan implemented by BP, including development of the Shah Deniz Phase 2 and offshore bloc of fields Azeri-Chirag-Guneshli.
According to CBA, during this period direct investments into the non-oil sector totaled $678 million or 11.8% of total volume of investments into the economy. This is down 20.7% against the same period last year. From January to September 2014 the amount of foreign investments into the non-oil sector of Azerbaijan totaled $855 million.—0-
Economics
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Azerbaijan President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
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The Italian government has extended the deadline for applications in the international tender for the sale of several strategic assets until February 14, confirming that a bidder from Azerbaijan remains among the frontrunners.
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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