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Azerbaijan's foreign direct investment falls 6 pct in 2015

Azerbaijan's foreign direct investment falls 6 pct in 2015
01.04.2016 09:30
 Azerbaijan saw a 6.3 percent drop in foreign direct investment last year, the central bank said on Thursday.

Total FDI was $7.5 billion last year compared with $8 billion in 2014, it said.

A crash in oil prices has sent the economy of the third-biggest ex-Soviet oil producer into a crisis and forced the central bank to adopt a series of measures to keep the manat currency from sliding too fast and stabilise the banking sector.

The central bank said 88.5 percent of total FDI went into the oil sector, up from 83.6 percent in 2014. The non-oil sector attracted $860.4 million in 2015, down from $1.3 billion a year earlier.

Azerbaijan's net financial assets rose to $13.7 billion last year from $11.7 billion in 2014, while obligations declined to $4.7 billion from $8.3 billion.

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