Minister: Volume of finances in non-oil, gas sector's fixed capital up by 22.5 pct

By Azernews

By Ayya Lmahamad

The volume of the finances allocated to the fixed capital in the non-oil and gas sector increased by 2.5 percent in the eight months of 2022, Azerbaijan's Economy Minister Mikayil Jabbarov said, Azernews reports.

He said that this is an important indicator of sustainable economic growth and business activity.

"In the 8 months of this year, the volume of the finances allocated to the fixed capital in the #nonoil-gas sector increased by 22.5 percent, compared to the corresponding period of the last year. This is an important indicator of sustainable economic growth and business activity. In January-August of 2021, the figure was 11.3 percent lower than in the same period of 2020," he twitted.

In his another post, the minister noted that under the interest subsidization mechanism for existing loans, decisions were made on granting interest subsidies of AZN69.4 million ($40.8m) to 5,023 applications with a loan balance of AZN850.3 million ($500.1m).

"As of September 1, 2022, under the interest subsidization mechanism for existing loans, decisions were made on granting interest subsidies of 69.4 mln. ? to 5,023 applications with a #loan balance of 850.3 mln. ?. So far, interest #subsidie-s of 65.9 mln. ? were allocated to entrepreneurs for 5,005 loans," he wrote.