70% of investments in Azerbaijani economy ensured via domestic sources

Investments worth 4.476 billion manat were invested in Azerbaijan's economy from all financial sources in the first half of 2011, Taxes Minister Fazil Mammadov said at a meeting of the Cabinet of Ministers dedicated to the socio-economic development in the first half of 2011 and chaired by President Ilham Aliyev, the official press reported.

"Some 3.257 billion manat was invested from domestic sources, 1.348 billion of which fell to the state budget," Mammadov said.

During the report period, the National Fund for Entrepreneurship Support has allocated concessional loans worth 72 million manat for 823 business entities, he said. Some 72 percent fell to the country’s regions and 24 percent to Baku settlements.

"More than 70 percent of the funds were directed to the agricultural sector development. The number of new jobs created through these loans totaled 3,500, which recorded a 1.6-times growth compared to the same period of 2010," Mammadov said.

He said the number of entrepreneurs, who have received preferential loans, and loan amount increased by 1.5 times compared to the same period of 2010.


/Trend/