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Azerbaijan sees 40% growth in investments in construction and reconstruction works

31 July 2013 11:38 (UTC +04:00)

Baku. Nijat Mustafayev – APA-Economics. In first half of 2013, AZN 7,361.8 mln of funds were directed to main capital from all financial sources, of which 64.9% went to construction and reconstruction works.

State Statistical Committee says compared to a year earlier, the funds directed to main capital rose 22.9%, construction and reconstruction works – 39.6%. State-owned enterprises and organizations spent AZN 4,482.6 mln to the main capital, non-stat enterprises – AZN 2,879.2 mln. AZN 3,849.5 mln was used in construction of production objects, AZN 3,512.3 mln – in construction of service objects.

The funds directed to main capital from domestic sources soared 18.1% to 74.9% of total investments and 76.7% fell to share of state-owned, 23.3% - to non-state enterprises.

Funds of enterprises and organizations in total investments directed to main capital made AZN 3,242.0 mln (4%), bank loans – AZN 346.4 mln (4.7%), budget funds – AZN 3,321.4 mln (45.1%), means of extra-budgetary funds – AZN 256.3 mln (3.5%), other funds – AZN 18.5 mln (0.3%).

45.4% of total funds directed to main capital was spent to development of industrial spheres, 18.2% - to transport and storehouse, 9% - to operations relating with real estate (9% of them to apartment construction), 7.4% - to government, 4.2% - to agriculture, 3.2% - to each of health, recreation, entertainment and art 3% - to education, 2.7% - to construction, 1% - to each of information and communication, administrative and auxiliary services, 0.9% - to trade, 0.4% - to tourist accommodation and catering, 0.2% - to other spheres, 0.1% - to each of finance and insurance, profession, scientific and technical activity.

Along with this the funds spent to development of non-oil sector rose 19.5% to AZN 5,111.2 mln (69.4% of total investment).