Investments in non-oil sector of Azerbaijan soar 6%

Investments in non-oil sector of Azerbaijan soar 6%
In 2017, from all financial sources 15 550,8 million AZN was directed to the main capital for the development of economic and social areas in Azerbaijan. 7 102,2 million AZN of this amount or 45.7% was spent for non-oil sector. The amount of investments in this sector has increased by 6%  compared to 2016.

ANN.Az informs referring to the State Statistics Committee (SSC) of Azerbaijan.

73.6% of total investments were spent directly for implementation of construction and installment works, 76.3% of used funds accounted for production facilities, 18.0% for service facilities, 5.7% for construction of residential houses with total area of 1727,4 thousand square meters. The funds directed from internal sources to the main capital made 44.6% of the total investment.

In total value of the investment directed for the main capital, the funds of enterprises and organizations accounted 63.4%, bank loans 14.1%, budget funds 15.4%, personal funds of population 5.1%, resources of extrabudgetary funds 1.3%, other funds 0.7%.

Baku-Tbilisi-Kars railway route, Pirallahi solar power plant, bridge, Balakhani Industrial Park, Pirshagi-Novkhani and Binagadi-Novkhani-Jorat highways, new campus of Baku Higher Oil School, new administrative building of Narimanov District Court, Pipe-Rolling plant in Sumgayit city, "Yeni Ganja” substation in Ganja city, new building of Ganja State Philharmonic, Grand Caucasus Trade Complex, Ganja Mall trade center, 10 schools with total capacity of 5160 students in Jojug Marjanli village of Jabrayil district, Gadabay, Salyan, Shamakhi and Tartar district have been launched in 2017.