The State Statistics Committee said in January-June the Azerbaijani economy was invested 6 billion 416.3 million manats of public and private capital expenditure (+ 3.7% to June 1 last year).
Most of that (4,151,100,000 manats, or 64.7% of all investments) was designed for production, and the remaining 2 billion 265.2 million AZN was directed to the construction of service facilities.
The share of domestic investments was 59.1% or 3 billion 791 million manats, while foreigners invested 2 billion 625.3 million manats.
Most of the money (3 billion 657.5 million manats or 57% of capital investments) was invested in the non-oil sector, while the oil industry was spent 2 billion 758.8 million manats.
More than two thirds (4,549,200,000 AZN or 70.9% of all investments) were the share of private capital.
Sharply (44.9%) decreased in comparison with last year the contribution of the state budget to the local economy - 1 billion 236.4 million manats, but increased the proportion of enterprises and organizations - at their own expense, they spent 4 billion 604.6 million AZN (+ 33.8%). Banks allocated for these purposes 248,100,000 credit manats (+ 12.5%), while natural persons provided 163.3 million manats (+ 22.3%). --17D-
Economics
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The Supreme Eurasian Economic Council of the Eurasian Economic Union (EAEU) convened today, December 26, 2024, at a summit highlighting the evolving dynamics of regional cooperation and the complex interplay of geopolitical interests among EAEU member states. The meeting, held in Saint Petersburg, brought together the leaders of the EAEU countries to discuss a robust agenda that could shape the bloc's trajectory in 2025 and beyond.
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The Union of Chambers of Commerce and Industry (UCCI) of the Organization of Turkic States (OTS) held its General Assembly in Baku on December 26, highlighting dynamic economic growth and deepening integration among member states. Representing Azerbaijan and other OTS member states, business and government leaders discussed trade, investments, and regional connectivity projects.
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Rice imports to Azerbaijan have soared to unprecedented levels during the January-November 2024 period, reflecting both rising domestic demand and increasing global food prices. Over this period, the country imported 60,400 tons of rice, marking an 18.6% increase in volume and a 35.3% rise in value compared to the same period in 2023.
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Over 17,750 life insurance contracts and 40,661 property insurance contracts were signed through Azerbaijan’s Mortgage and Credit Guarantee Fund (MCGF) between 2022 and 2024, reflecting the growing role of the Fund in strengthening the housing finance and insurance markets. These figures were revealed by Rasim Abdullayev, Director of the Mortgage Lending Department at MCGF, during the seminar "Tools for Supporting Housing Finance and Entrepreneurship."
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