The Ministry of Agriculture has published statistical information on areas under spring crops, which this year fell by 2% (7 hectares). Decline in the area was due to both adverse weather conditions in the spring and to the low profitability of separate technical plants (tobacco, cotton).
In addition, experts note a tendency to bring the accounting for acreage due to increased control issued by the State subsidies to farmers. In April this year the Republican Commission on agricultural subsidies decided to analyze the use of these subsidies to the destination. The first monitoring conducted in the Imishli area revealed negative phenomena, and the collected materials were sent to the Prosecutor General, the Ministry of Agriculture announced on June 9.
According to the Ministry of Agriculture, grain and leguminous crops (excluding maize) this year set aside 26,600 hectares, which is 13% less than on June 1, 2013. This year, the corn will be collected from 36 200 ha. The area under maize this year decreased 2.5%.
Despite the high prices, the area under potato this year amounted to 61,523 hectares. It is 3119 hectares, or 4.8% less than last year.
Significantly reduced the area under vegetables (-1.6%), melons (-3.7%). According to the Ministry of Agriculture, this year's vegetables are planted on 73,300 hectares, melons - 26,700 hectares.
Since 2007, the tobacco growing sector has entered a period of regression: 2007-2013 area under this crop was 1 100 - 1 500 ha. This year, tobacco is planted on 1,107 hectares, which is 99 ha (8.2%) less than in 2013. The tobacco growers in Azerbaijan (in the Sheki-Lankaran economic region) today are mainly in LLC Inter Tobacco. - 08B-
Economics
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Elon Musk, co-chair of the U.S. Department of Government Efficiency (DOGE), has outlined a strategy to bring inflation in the United States down to zero by 2026 through aggressive cuts in federal spending. Musk’s plan, which aims to reduce approximately $4 billion in projected daily expenditures, is designed to shrink the federal deficit to $1 trillion by 2026. While the deficit would still be substantial, Musk argues that accelerated economic growth could offset inflationary pressures, ultimately stabilizing the economy.
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The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas projects in the Mediterranean, SOCAR said in a statement on Wednesday.projects in the Mediterranean, SOCAR said in a statement on Wednesday.
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On January 30, Azerbaijani President Ilham Aliyev has signed a decree approving the State Program for the Improvement of Transport Infrastructure in Baku and Surrounding Areas for 2025-2030, aiming to modernize the capital’s urban mobility and reduce congestion, the presidential press service said on Tuesday.
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Goldman Sachs has revised its oil price forecasts, raising its projections for Brent and Azeri Light crude by $2 per barrel for both 2025 and 2026, setting the estimate at $78 per barrel. The adjustment reflects expectations of tighter supply conditions driven by geopolitical risks, including U.S. sanctions affecting Russian oil production and potential future restrictions on Iranian crude exports.
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