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 new law on "Political Parties," adopted two years ago, came into effect early last year and has been criticized by the Venice Commission, is already making its impact felt. On December 4, the activities of two political parties—the Freedom Party and the Party of Free Democrats—were halted through court orders. The Ministry of Justice cited discrepancies in the documentation of these parties as the reason for its appeal to the court.
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In the first ten months of 2024, Baku's trade turnover registered a 4.4% increase compared to the same period last year, reaching a substantial 28.2 billion manat, according to the Baku City Statistics Department.
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In a significant move to bolster its financial capabilities, Azerbaijan's state-owned energy company SOCAR has signed an agreement with Italy's Intesa Sanpaolo bank. The pact, which underscores growing cooperation between the two entities, marks a step forward in securing financial resources for SOCAR's ambitious projects, including its ventures in green energy.
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In the first 11 months of 2024, Azerbaijan experienced a robust recovery in its tourism sector, with 2.41 million foreign and stateless individuals visiting the country, marking a 27.4% increase compared to the same period last year, according to the State Border Service. This growth reflects Azerbaijan’s increasing appeal as a travel destination, bolstered by diversification in source markets and improved transport infrastructure.
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