Azerbaijan’s foreign direct investment falls 6 pct in 2015

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.

(Reporting by Nailia Bagirova; Writing by Margarita Antidze;
Editing by Mark Trevelyan)

The article Azerbaijan's foreign direct investment falls 6 pct in 2015 was originally published at Reuters - US Energy.