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Financing of Agricultural Sector Increased by 20%
In 2017, the government intends to finance the agricultural sector with 5% of the budget, which is 1.3% higher than the expected rate for the current year. This is stated in the presentation of the Ministry of Finance on the state budget for next year.
In 2017, to finance the reclamation system, grant subsidies and purchase agricultural machinery there will be spent 823 million AZN, 138.4 million AZN or 20.2% more than projected for this year.
On food security it is planned to allocate 104 million manats, on funding benefits and aid for the cultivation of land - 82 million mantas, and on the development of agriculture, purchase of agricultural machinery and equipment - 268 million AZN.
Note that since 2017 the government has envisaged fundamental changes in the system of subsidizing the agricultural sector through the revision of its mechanism. Subsidies will be provided not on the area of cultivated lands, but on their impact. -----08D
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