Finance

Finance

Azerbaijanâ€™s Q1 net financial assets make $4 bln

12 June 2013 13:48 (UTC +04:00)

Baku. Vahab Rzayev – APA-Economics. According to BOP (Balance of Payment) during the first quarter of 2013, the net financial assets of the country made $4.0 bln. APA-Economics says this index was formed by investments to abroad ($184.8 mln), portfolio investments (53.7 mln) and other investments ($3,736.5 mln).

(mln. dollar)

	Assets	Liabilities
Direct investments	184.8	578.8
- oil-gas sector	66.7	350.9
- other sectors	118.1	227.9
Portfolio investments	53.7	1,011.1
Other investments	3,736.5	- 245.7
- trade credits and advances	1,590.2	53.2
- credits	14.6	-470.4
- Deposits and cash	2,131.7	171.5
Oil bonus	0.0	0.3
total	3,975.0	1,344.5

CB comment on BOP says that total sum of investments involved from abroad as direct investments made $1.4 bln and share of oil-gas sector in the structure of these investments stood at 83.2%. Involved investments were used in financing of works carried out on oil-gas projects, especially Shahdeniz and Azer-Chirag-Guneshli projects.

Nw financial assets on credits rose $14.6 mln, net financial liabilities dropped $470.4 mln. Net financial liabilities increased at the cost of direct state and state guaranteed loans ($177.2 mln), however dropped at the cost other enterprises and companies ($383.5 mln).

Net financial assets on deposits and cash soared $2.1 bln, net financial liabilities - $171.5 mln. Banks’ share in these growths made 52.9% and 85.4%.