Finance

Finance

Azerbaijanâ€™s net financial assets reached $8.8 bln

16 December 2013 11:14 (UTC +04:00)

Baku. Vahab Rzayev – APA-Economics. According to balance of payments for January-September, 2013, the net financial assets of the country made $8.8 bln.

APA-Economics reports that this index was formed by direct investments directed to abroad ($775.0 mln), portfolio investments ($244.7 mln) and other investments ($7,739.4 mln).

(mln. dollar)

	Assets	Obligations
Direct investments	775.0	1,968.6
- oil and gas sector	408.8	1,303.0
- other sectors	366.2	665.6
Portfolio investments	244.7	1,034.2
Other investments	7,739.4	701.3
- commercial loans and advances	4,380.4	106.3
- loans	91.4	-87.8
- deposits and cash currency	3,267.6	682.8
Oil bonus	0.0	0.4
TOTAL	8,759.1	3,704.5

Balance of payment of the Central Bank says the investments involved from abroad as direct investments made $4.6 bln. Share of oil-gas sector in this structure makes 83.1%. These investments have been used in the economy of country related to financing of large oil and gas projects, as well as Shah Deniz and Azeri-Chirag-Guneshl. According to evaluation, the investments involved to oil and gas sector made $780.8 mln, which makes 1639% of foreign investments

During the reporting period, net assets on loans rose $91.4 mln, net financial obligations dropped $87.8 mln. Net financial obligations rose $301.6 mln through banks, $179.1 mln through direct state and state guaranteed loans, while dropped $568.4mln – through other enterprises ad firms.

Net financial assets on deposits and cash increased by $ 3.3 bln, net financial obligations – by 682.8 mln.