Azerbaijan posts 9% rise in foreign capital inflow

Azerbaijan posts 9% rise in foreign capital inflow
# 15 December 2008 14:26 (UTC +04:00)
Baku. Vahab Rzayev – APA-Economics. According to Azerbaijan’s balance of payment for January-September, capital inflow to the country reached $5 974 million, up 8.8% on the same period last year.
The National Bank of Azerbaijan said only 8% of the capital was government-secured investments.

Foreign capital inflow

January-September, 2007

January-September, 2008

Direct investment

3 391,9

2 959,4

- Oil-gas sector

3 115,0

2 479,7

- Other sectors

276,9

479,7

Credits and other investments

2 052,4

3 011,1

- Government-secured loans

313,4

478,0

- Unsecured loan

1 164,4

1 991,9

- Oil-gas sector

456,4

688,2

- Banks

615,6

967,1

- Others

92,6

336,6

- Other investments

574,4

541,2

Oil bonus

46,2

3,5

Total

5 490,5

5 974,0


Direct foreign investments made about $3 billion, of which 83.8% went to the oil- gas sector. $479.7 million was channeled into the non-oil sector.
According to the balance of payment, direct investment outflow (investment abroad) fell 44.4% to $3.6 billion. The decline is mostly attributed to the fall in capital repatriation by the Contract of Century Consortium (Azerbaijan International Operating Company).
Given that investment repatriation in the oil-gas sector was $6.1 billion in January-September, 2007, the figure declined by $2.74 billion to $3.36 billion during the same period this year.
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