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State Investment Program Cost Will Exceed 9 Billion USD in 2014

The state investment volume in Azerbaijan is expected to hit 7.37 billion manat in 2014, according to the Ministry of Finance.

6.26 billion manat is planned to be allocated from the state budget and 1.11 billion manat more will be delivered through external borrowing and 1.92 billion from the State Oil Fund of Azerbaijan.

Around 4.74 billion manat of these funds is planned to be spent for infrastructure projects and 1.86 billion manat for social projects. Another 775 million manat will be spent on the reconstruction of areas, the elimination of consequences of emergency situations, as well as institutional and other projects.

According to the priorities of the country's socio-economic development, in 2014 public investments will primarily focus on the completion of current projects in the fields of industry, transport, energy, agriculture, construction and restoration of art and cultural facilities, defense, ensuring the national security and the protection of Azerbaijan's borders, as well as projects envisaged by various programs.

The official exchange rate is 0,7843 AZN/USD.

Source: Trend

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