Investments in Non-oil Sector Grew by 31.2% due to the State

In nine months in fixed assets in Azerbaijan was invested 9.9 billion manat, which is 27.4% more than in the comparable period of 2011. The growth rate of investment in the non-oil sector of the economy exceeds the total growth rate of investment by 3.8%.

The State Statistics Committee said that the first three quarters of this year in the non-oil sector of the economy was invested 7.3 billion manat, which is 31.2% more than in January-September 2011.

Domestic sources account for 79.4% of investments in fixed assets. The share of the state's investment portfolio is 60.9%

According to the committee, about 44.1% of capital expenditure was spent on the construction of industrial facilities, and the remaining 55.9% - on services.

This year was put into operation 1,197.8 thousand square meters of living space.

Investment growth in the construction sector in Azerbaijan by local sources is observed with rising investments from the state budget from oil revenues. At the same time, domestic investment finds legal and illegal ways to also flow abroad. Local and foreign media repeatedly publish investigative reports on investments in foreign real estate by tycoons. - 08D-