By the August 1st in Azerbaijan the harvest was collected from 944,000 hectares, which is by 44,000 thousand hectares more than in the comparable period of last year. At the same time, according to the State Statistics Committee, the yield of grain from 1 hectare decreased by an average of 0.8 quintals. At the beginning of August, growers harvested a 98.2% acreage. The average yield is 29.7 hectares from a quintals.
This year were produced 2.8 million tons of grain, which is by 2% more than in the same period of 2015. The growth was due to increased acreage. In Saatli and Sabirabad regions the average grain yield amounted to 41.6 and 38 tons per hectare.
The Ministry of Agriculture told Turan, that the decrease in yield is due to unfavorable weather conditions. The ministry noted that dependence on imported wheat will decline this year. The amount of food grain production this year is 1.843.000 tons. Over the comparable period of 2015, this figure was 1.7 million tons. In 2015, Azerbaijan purchased in Russia and Kazakhstan 1.353.000 tons of wheat. --08B--
Economics
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Azerbaijan's Cabinet of Ministers has approved amendments to the list of strategically important goods in the country's consumer market, as outlined in Decision No. 136 dated April 27, 2023. The update aligns with the implementation of the Law on State Reserves and a corresponding presidential decree, the government announced on Thursday.
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Representatives of Azerbaijani and Latvian business circles convened in Baku for the "Azerbaijan-Latvia Information and Networking Meeting," marking a significant step in bolstering economic cooperation between the two countries. Latvian Ambassador to Azerbaijan, Edgars Skuja, underscored the event’s mission to connect entrepreneurs from both nations, aiming to enhance collaboration across multiple sectors.
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The President of Azerbaijan approved the amendments on November 7, which were made to the “Law of the Republic of Azerbaijan on Credit Bureaus” by the Milli Majlis. The text of the amended law was published on November 28.
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The European Bank for Reconstruction and Development (EBRD) has released its Transition Report 2024-25 for Azerbaijan, urging the country to take bold steps to improve economic governance and foster private sector development. The report outlines key priorities for Azerbaijan’s economic trajectory and highlights challenges stemming from its reliance on volatile energy markets.
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