Up to AZN 16 bn invested in infrastructure projects in Azerbaijan last year

Baku, March 15, AZERTAC

Up to AZN 16 billion was invested in the implementation of infrastructure projects in the country,” said speaker of the Milli Majlis Ogtay Asadov at a plenary session of the Parliament.

"Negative trends in the world economy have increased in the past year, economic activity has considerably weakened. Of course, this negative trend affected Azerbaijan as well. A purposeful policy pursued by President Ilham Aliyev minimized the impact of negative trends in the national economy. Gross domestic product increase of 1.1 percent can be considered acceptable under the current circumstances. Growth is accounted for the non-oil sector as a whole, "he said.

Highlighting the last year's achievements in the country's economy, Asadov said: "Azerbaijan has always been attractive for investment. Last year it once again showed itself. Nearly AZN16 billion was invested in the implementation of infrastructure projects in the country. Some 56 per cent of these funds were provided by the domestic financing. Investments in the country's non-oil sector were AZN 7.1 billion while it amounted to 8.8 billion in the non-oil sector in last year. This created favorable conditions for the development of entrepreneurship in the non-oil sector. "

He noted that Azerbaijan fulfilled trade operations with 165 countries in 2015. “Some 47 per cent of the turnover and 60 per cent of exports came from European Union countries,” he added.

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