Azeri Economy Investment 2006 Overview

Azeri Economy Investment 2006 Overview
# 25 January 2007 16:24 (UTC +04:00)
AZN 5963.6mln were invested in social and economic development activities, up 14.8% from the previous year.
Non-state organizations and structures dominated investment made in economy with AZN 4166.7mln making 69.9% of the total investment. This figure is 4.3% below the previous year. State-run structures doubled investment to AZN 1796.9mln within a 30.1% share.
Construction works spending leaped 9.7% to AZN 3029.8mln. construction of production facilities spent AZN 5071.4mln and non-production –social-oriented- facilities spent AZN 892.2mln. Development of oil sector in the country ate more than half of the investment, however dropped from the previous year to AZN 3297.8mln. Non-oil sector spent AZN 2665.8mln during the year.
Foreign investors’ share still remained above the half. Foreign investment made up AZN 3229.4mln or 54.2% of the overall capital invested during the year while down 5.5% from the previous year.
The U.K (46.9%), U.S. (17.4%), Japan (9.7%), Germany (6.6%), Norway (6.4%), Turkey (6.2%) and Saudi Arabia (2%) led foreign investors.
Among international financial institutions, the World Bank (0.7%), the European Bank for Reconstruction and Development (0.3%) and Islamic Development Bank went ahead.
Investment made through domestic financial resources skyrocketed 53.8%, year-over-year, to constitute AZN 2734.2mln or 45.8% of the total investment.
The diagram below gives classification of investment.

Amount of investment during 2006 (AZN mln)

Up from the previous year (percent)

Percentage in the whole investment

Total

5963.6

114.8

100

Finances by enterprises and organizations

4139.4

94.9

69.4

Loans by banks

383.8

114.8

6.4

Budget-allocated loans

847.5

4.4 times

14.2

Loans by off-budget Funds

253.7

3.7 times

4.3

People’s own finances

320.4

153

5.4

Others

18.8

62.4

0.3



The figures above show overview of the shares in investment made in the economy last year.
Besides, Banks also financed the real sector of the economy by lending commercial, consumption, mortgage and other loans to individual and legal bodies.
The diagram below gives classification of investment made in the basic capital (fixed assets) and financial sources.

Used during 2006

Up from the previous year (percent)

Percentage in the whole

Total investment

5963.6

114.8

100

Public sector

1796.6

2.1 раз

30.1

Non-state sector

4166.7

95.7

69.9

Industry including

4130.5

107.6

69.3

Production

3278.7

94.1

55

Processing

96.3

103.7

1.6

Production and distribution of electricity, gas and water

755.5

2.9 times

12.7

Agriculture, foresting and hunting

57.8

142

1.0

Construction

6.8

14.3

0.1

Trade, repair of vehicles and household devices

114

94.5

1.9

Hotel and restaurant services

15

13.3 times

0.2

Transport, warehousingand communications

755,6

125.8

12.7

Construction of residential buildings

488.2

139.6

8.2

Education

113

2.8 times

1.9

Health and social services

51.6

3.2 times

0.9

Other services

106

140

0.9



440km-part of Baku-Tbilisi-Ceyhan Pipeline was laid and a 326km-long gas pipeline was laid in Nakhchivan through investment in 2006. Module power plant, dried fruits factory, tea-packing factory, furniture factory, Vaykhir hydroelectric plant come on stream in Nakhchivan, international airport, chocolate-making factory were opened in Ganja, computer-producing plant come on line in Mingechevir, sugar refinery was commissioned in Imishli, auto plant started in Shamakhi. Module power plants were opened in Astara, Sheki and Khachmaz. New telephone exchanges were commissioned in various regions. Two road bridges were opened in Baku.
Moreover, schools, hospitals, residential buildings, clinics, kindergartens, ambulatories, Imishli sports building complex, Lenkeran stadium Nakhchivan diagnostic center and other social facilities were opened in 2006.
Foreign investors’ share in the fixed assets was 57.9%, local investors’ share was 42.1%. /APA/

APA-ECONOMICS
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