In January-October of this year through the State Service for the management of agricultural projects and credits (GSUSPK) preferential loans worth a total of 18 million 944 thousand manat were granted to farmers and agricultural enterprises, which is 13.6 % more than in the comparable period of 2015.
At the expense of the State Service’s own funds banks granted 179 loans to agricultural producers, totaling more than 9 million AZN, 35% less than for the comparable period of 2015. In addition, within the framework of international projects managed by the State Service, 49 entrepreneurs have received loans of 9.8 million manat (+3.6 times).
GSUSPK has operated under the Ministry of Agriculture since 2007. Its administration has 65 million manat of budget funds. In 2016, the Service received AZN 5 million from the state budget. -----08B
Economics
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Azerbaijan began the new year with significant hikes in gas, electricity, water, and medication tariffs, sparking widespread concern among citizens over the financial burden on households. While officials defend the measures as necessary for economic sustainability, critics warn of challenges tied to stagnant wages and pensions.
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As of January 1, Europe has ceased contract-based transit of Russian gas through Ukraine. Kyiv announced it would not renew agreements to traffic gas from the "aggressor nation" through its territory. The decision marks a pivotal moment in Europe’s efforts to reduce reliance on Russian energy, a dependency that supplied nearly 50% of the continent’s gas imports before the war in Ukraine.
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Azerbaijan's Tariff Council has approved a decision to regulate the maximum wholesale and retail prices of registered medicines, with the new pricing caps coming into effect on January 2, 2025.
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Azerbaijan's Tariff Council has approved tariffs for connecting construction sites to water supply and wastewater systems for the first time, addressing a previously unregulated sector with inconsistent charges, the council announced on January 2.
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