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-
Economics
-
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.
-
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.
-
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.
-
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.
Leave a review