Ministry of Agriculture Disclosed Amount of Subsidies Paid to Farmers

Azerbaijan's State Statistical Committee (SSC) recently unveiled its comprehensive 2024 macroeconomic report, revealing mixed signals in the country's economic trajectory. While GDP growth and sectoral achievements suggest resilience, deeper analysis, particularly from experts like economist Gubad Ibadoglu, highlights lingering structural weaknesses and development inequality.

Azerbaijan has launched work on its largest electronic information resource for geographic data, with a project budget of 21 million manats. The initiative, titled "Creation of the National Space Data Information System" (“Milli Məkan Məlumatları İnformasiya Sisteminin yaradılması”), has been awarded to a consortium of local companies—CASPEL, Cyberpoint, and RİSK—following a competitive tender by the Ministry of Economy. A contract worth 19 million manats has been signed with the consortium, Osman Gunduz, head of the NGO Multimedia, revealed on Facebook.

In 2024, Azerbaijan’s wheat production reached 1,685.7 thousand tons, reflecting a sharp decline of 148.2 thousand tons compared to the previous year, according to the State Statistical Committee. Wheat productivity also fell by 8.5%, dropping from 33.8 quintals per hectare in 2023 to 30.9 quintals in 2024. These figures underscore a troubling trend for a nation that meets only 25% of its domestic wheat needs through local production.

Azerbaijan’s Minister of Economy, Mikayil Jabbarov, participated in the "Circle of Leaders: Financing the Energy Transition - New Horizons" session during the World Economic Forum (WEF) in Davos, emphasizing the country’s strategic role in global energy security and its green energy transition initiatives.