By December 1, capital investment in the local economy amounted to 14 billion 693,100,000 manat (+ 0.3% against January-November last year).
According to the State Statistics Committee, more than two thirds (67.2%, or AZN 9 billion. 870.9 million) of these funds are aimed at development of production, and the rest amount – AZN 4 billion 822,200,000 – at construction of facilities services. The share of foreign investment is 30% or 4 billion 400,600,000 manat.
In the oil sector in January-November 5 billion 424,100,000 manat was invested (36.9% of all capital investments), and the remaining 9.27 billion manat fell on the non-oil sector - mainly projects, the course of execution of which is difficult to verify. Indicative of this is the fact that 73.8% of investments fell on the construction and installation works - 10 billion 843,500,000 manat.
The share of enterprises and organizations, mainly public joint stock companies, amounted to $ 7 billion 628,300,000 manat (+ 28.4%), and the share of state budget funds was 5 billion 717,100,000 manat (minus 17.4%). Banking institutions invested 494.9 million manat (minus 34.3%), and extra-budgetary funds were 304.4 million manat (minus 38.3%). The share of the population was 482.2 million manat (+ 17.6%) and "other sources" were 66.2 million manat (minus 33.8%). --17D-
Economics
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According to data released by the State Statistics Committee, Azerbaijan’s agricultural sector achieved slight production growth in the first eight months of 2024. The total volume of agricultural production reached 8.723 billion manats, which is 0.8% higher than during the same period last year. However, this growth occurs against a backdrop of increasing food imports, despite significant government subsidies aimed at supporting domestic agriculture.
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Azerbaijan has unveiled strong fiscal indicators for the first eight months of the current year, reporting a state budget surplus that underscores the country’s economic resilience amidst global uncertainties. According to operational data released by the Ministry of Finance, state budget revenues from January to August 2024 reached 25 billion 223.4 million manats, while expenditures amounted to 22 billion 362.4 million manats.
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Azerbaijan has made significant progress in diversifying its energy balance, with renewable sources playing an increasingly important role in the country's electricity production. Operational data for January-August 2024 show that total electricity generation reached 19,235.4 million kilowatt-hours (kWh), marking a noticeable shift towards greener energy.
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Bilateral relations between Azerbaijan and Russia are accelerating, particularly in the agricultural sector, as Deputy Prime Minister Shahin Mustafayev and Russia’s Minister of Agriculture Oksana Lut underscored during their high-level meeting on September 13 in Baku.
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