BAKU, Azerbaijan, September 15. The energy
sector of Italy accounted for the largest share of Azerbaijan's
foreign investments in the first half of 2026, Director of the
Statistics Department at the Central Bank of Azerbaijan (CBA),
Samir Nasirov, said at a briefing dedicated to the release of
balance of payments data today, Trend's correspondent reports from the
event.


Nasirov noted that in the reporting period, significant dynamics
have been observed in the capital and financial account of
Azerbaijan's balance of payments, as well as in its reserve
assets.


According to him, significant changes occurred in foreign direct
investment, portfolio investment, and other investments during the
reporting period.


Moreover, Nasirov emphasized that a major portion of
Azerbaijan's foreign direct investment was linked to the
acquisition of a stake in the Italian energy sector.


"A significant part of the foreign investment was carried out
through the purchase of a majority stake in Italiana Petroli, one
of Italy's leading oil, gas, and fuel companies," he noted.


The CBA official also addressed figures regarding portfolio
investment. According to him, a reduction in the country's
financial obligations was one of the primary reasons for the
deficit in this category.


"In the first quarter, a buyback operation for Eurobonds
previously issued under the Southern Gas Corridor project was
successfully executed. This move contributed to a reduction in the
country's external debt and financial obligations," Nasirov
mentioned.







He also noted an increase in the "Other investments" item.


"The primary reason for the surplus in this category is an
increase in liabilities. Funds raised to finance investment
projects were recorded as inflows into the country," the CBA
official emphasized.


According to him, over the reporting period, a decrease in
deposits and cash currency holdings, alongside an increase in
loans, was observed within the "Other investments" category.


"These funds were directed specifically toward financing
investment projects," Nasirov clarified.


The CBA official said that a significant growth in realized
reserve assets was also recorded during the reporting period.


"Excluding exchange rate fluctuations and revaluation effects,
realized reserve assets increased by $1.4 billion," he added.