Finance

Finance

Azerbaijan posts a 17% drop in fixed investments

19 November 2009 11:35 (UTC +04:00)

Baku. Nijat Mustafayev â€“ APA-ECONOMICS. Through all the funding sources, the fixed investments made AZN 5 922.7 million in Azerbaijan during January-October, down 17.4% from the same period a year ago.

The State Statistical Committee said investments made in construction and reconstruction works reached AZN 4 141.6 billion or 69.6% of the total investments. Of this, the fixed investments by non-state enterprises and organizations made AZN 2 460.2 million and the fixed investments by state-owned units made AZN 3 462.5 million.

AZN 4 471.6 million went to production-oriented projects and AZN 1 451.1 billion to non-production projects.

Domestic investments far exceeded foreign investment in the country during this period.

Domestic investment, 68.2% of which were made by state-owned entities, accounted for 80.5% of fixed capital investment during January-October.