State budget expenditures for capital investments by April 1 of this year amounted to 3 billion 125.9 million (7 % compared with the first quarter of last year) , according to the State Statistics Committee (http://stat.gov.az/news/?id=2228) on macroeconomic indicators.
More than two thirds (70 % or 2 billion 189.5 million ) of all investments intended for the construction of production facilities , the remaining 936.4 million or 30% is directed to objects services. Traditionally, two-thirds (67.5 % or 2.11 billion manat) investment spending - government money. The remaining 1 billion 16.2 million manat or 32.5% of borrowed funds - foreign financial inflows, although experts believe it is part of local entrepreneurs, bred in the offshore zone.
According to the State Statistics Committee, the majority of funds (56.2 % or 1 billion 756.3 million ) is intended for non-oil sector (mainly for construction ), the remaining 43.8% or 369.6 million 1 billion - for oil and related industries. Directly in the construction and installation work invested 67.4 % of the 2 billion or 106.86 million manat.
Investment costs of public and private enterprises are almost evenly - first laid down on the shoulders of 49.5 % of all costs - 1 billion 547.3 million manat , the second - 50.5 % or 1 billion 578.6 million manat.
The portfolio investments recorded the largest decline in extra-budgetary funds (minus 43.9 % per year) and in the banking sector (minus 20.8%).
SSC traditionally waits for the speech of the President at a Cabinet meeting and only after that publishes reports on macroeconomic indicators. - 17D-
Economics
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Azerbaijani President Ilham Aliyev has signed amendments to two presidential decrees, refining the roles and appointments of the State Customs Committee's representatives abroad, including in international organizations.
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Auditing organizations and independent auditors in Azerbaijan concluded 7,232 contracts valued at 133.2 million manats ($78.4 million) in 2023, reflecting increases of 20% in the number of contracts and 7.1% in their total value compared to the previous year, according to the Chamber of Auditors.
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The third meeting of the auction commission was held to evaluate the proposals submitted by participants in the auction for the Gobustan Solar Power Plant project, supported by the European Bank for Reconstruction and Development (EBRD). The meeting focused primarily on determining qualification eligibility and selecting the auction winner, according to the State Agency for Renewable Energy Sources.
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There is no sensationalism in the recent renaming of the Azerbaijani ship Karabakh to Mingachevir; the new name was given to the ship to ensure that two vessels would not operate under the same name, the Merchant Fleet of Azerbaijan Caspian Shipping Company (ASCO) CJSC told Turan.
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