In the first quarter of this year in the Azerbaijani economy was invested $ 3.6 billion in foreign investment, more than half of which was straight, the State Statistics Committee said.
During January-March this year, the volume of foreign investments in Azerbaijan's economy grew by 25.1%. The share of financial loans was 14.5% of foreign borrowing. The share of portfolio investment amounted to 32.5%.
The government, as well as the local financial institutions, received loans totaling $ 521.3 million from abroad, which was 3.1% higher than a year earlier.
Direct foreign investments in Azerbaijan were invested mainly in oil and gas sector - $ 1.6 billion, or 86.3% of the total portfolio of direct investments.
In the first quarter, the volume of direct investment grew by 34.6%.
In 2013, foreign investment in Azerbaijan amounted to $ 6.3 billion. - 08D-
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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