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
Economics
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Azerbaijan's economy demonstrated robust growth from January to November 2024, with gross domestic product (GDP) rising by 4.7% compared to the same period last year, according to government data. By September, GDP had reached 92.83 billion manats (approximately $54.7 billion USD), reflecting significant progress in diversifying beyond oil and gas, a longstanding focus of economic policy.
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A recent report by the World Bank titled “Breaking Barriers for Women’s Employment in Azerbaijan” sheds light on the significant gender imbalance in the country’s labor market. While both men and women participate actively in the labor force, disparities in employment rates, job quality, and societal attitudes highlight the challenges women continue to face.
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Azerbaijan's consumer price index rose by 4.4% in November 2024 compared to the same month in 2023, driven by higher costs for food, beverages, and services, government data showed on Tuesday.
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Kazakhstan has unveiled plans to develop five major cross-border trade and transport hubs to enhance connectivity and boost economic ties with neighboring countries, Trade and Integration Minister Arman Shakkaliev said on Monday during a government meeting.
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