The State Commission on Agricultural Subsidies decided to provide grants totaling 4 million 628.5 thousand manats to four selling organizations.
According to the Commission, the grants were received by the state-run Agroleasing, as well as by the private companies LLC MKT Istehsalat Kommersiya, Agroline Group and EKO Trade, which sold 5,019 subjects 9,837 tons of mineral fertilizers.
In addition, by decision of the Commission, for the sale of 15.9 tons of pesticides to 2,413 economic entities subsidies amounting to 347,300 manats were granted to the companies Agroleasing, Agrokimya, EMA, and Agrico.
Note that the amount of subsidy is 70% of the value of sales of fertilizers and pesticides. -----08D
Economics
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BP has signed a shareholders agreement with SOCAR Green (a subsidiary of SOCAR) and the Azerbaijan Investment Company (AIC) to form a joint venture for the construction of a 240 MW solar power plant in Azerbaijan’s Jabrayil District, the company announced on Monday.
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The State Oil Company of Azerbaijan (SOCAR) and Russian energy giant Gazprom are discussing further steps to strengthen their strategic partnership in the energy sector, SOCAR announced on social media on Monday.
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Azerbaijan, known worldwide for its oil wealth, has seen its oil and gas sector contribute at least 90% of its exports, significantly shaping the country’s GDP, foreign investment, and fiscal stability. These resources have helped stabilize the national currency and ensured political and social stability. However, since oil production has been steadily declining since 2011, the country faces mounting economic challenges as it transitions into a post-oil era, notes economist Gubad Ibadoglu.
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In Azerbaijan, it is planned to calculate wages on an hourly basis instead of monthly. At the same time, according to officials' statements, salary increases are expected next year. So far, there is no official information on how much wages will increase. However, experts say that the transition to hourly wages in Azerbaijan appears very difficult and could lead to cases of abuse.
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