The April 25 regular meeting of the Republican committee on agricultural subsidies under the chairmanship of the Minister of Agriculture Ismat Abbasov made a decision on the allocation of subsidies to companies that have implemented fertilizers under 50% of the cost.
According to the press service of the Ministry of Agriculture, it was decided to grant five subjects subsidies totaling more than 2.5 million manat. Funds were given to Agroleasing, LLC Agrokimya, Mikro Az Feed, Agroline Group and Goranboy Kendkimya.
These companies have sold this year, 9 583 tons of fertilizer to about 9.6 million farmers and agribusinesses for fertilizing 55.3 thousand hectares of land.
Subsidization of agriculture in Azerbaijan has been carried out from 2006. In 2013, the state budget for the provision of agricultural subsidies will be allocated 125 million manat. In 2012, these expenditures made up 114 million manat. - 08D-
Economics
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Azerbaijan’s economy, which is heavily dependent on oil revenues, faces a stark warning in the 2021 report by Carbon Tracker titled “Beyond the Oil States: The Urgent Need to Reduce Dependence on Oil in the Context of the Energy Transition.” The report ranks Azerbaijan among the most vulnerable oil-dependent countries, placing it in the "5th group" — a category reserved for nations expected to experience a decline in oil and gas revenues exceeding 40% over the next decade. This group includes Angola, Bahrain, Timor-Leste, Equatorial Guinea, Oman, and South Sudan, highlighting shared economic risks for these states.
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Azerbaijan's non-oil and gas exports rose 3.5% year-on-year to $2.8 billion during the first ten months of 2024, the Center for Analysis of Economic Reforms and Communication (CAERC) reported in its November "Export Review."
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Azerbaijan Railways CJSC (ADY) will modify the schedules for commuter and domestic trains in line with the Cabinet of Ministers' decision to adjust work and rest days in November, aiming to ensure safe and comfortable travel during the COP29 event, the company announced.
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In Azerbaijan, the government has increasingly relied on tax exemptions for imported goods as a tool to stabilize domestic market prices. The exemption from the 18% VAT on wheat imports, extended this year, exemplifies this approach. New measures have also been introduced, including tax relief on imports of electric vehicle chargers, while exemptions for high-cost medications are currently under discussion. Notably, defense imports continue to be free from taxes and customs duties.
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