Agroleasing JSC Receives 18 Million Manat from President
Azerbaijani President Ilham Aliyev on November 20 ordered to allocate AZN 8 million to the state-run JSC Agroleasing from the Presidential Reserve Fund of State Budget for 2014 for the purchase of agricultural equipment and 10 million manat to buy breeding stock.
Over the 10-year period of activity of the company by public funds were purchased and leased to farmers over 20 000 units of agricultural machinery, as well as about 11 000 head of cattle and more than 2 000 head of sheep and goats.
In 2014 JSC Agroleasing received from the state budget 35 million manat of direct financing. The following year there will be the same amount of funding.
Purchased in Europe, breeding stock is available to farmers on a three-year lease on 50% of the purchase price.
JSC Agroleasing was established in 2004 with a 100% equity interest of the state. Since 2009, it is subordinate to the Ministry of Agriculture. --08D--
-
- Economics
- 22 November 2014 13:12
Economics
-
Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
-
According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
-
The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
-
"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
Leave a review