The State Service for the Management of Agricultural Projects and Credits (SSMAPC) under the Ministry of Agriculture provided 233 farmers and companies with loans totaling 11.4 million manat in 2016, 78.4% of which is directed at the development of livestock farms. The Ministry of Agriculture told Turan.
In addition, within the framework of agricultural projects implemented by the government with the financial support of international financial institutions, 98 subjects received loans amounting to 11.8 million manat. Thus, in 2016 the volume of agricultural loans issued by SSMAPC in credit lines (23 million 279 thousand manat) decreased compared to the previous year by 0.4%.
In 2017, the government suspended funding SSMAPC from the state budget, which began in 2007. This year loans for this will be provided by revolving funds. -----08D
Economics
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Azerbaijan’s economy, which is heavily dependent on oil revenues, faces a stark warning in the 2021 report by Carbon Tracker titled “Beyond the Oil States: The Urgent Need to Reduce Dependence on Oil in the Context of the Energy Transition.” The report ranks Azerbaijan among the most vulnerable oil-dependent countries, placing it in the "5th group" — a category reserved for nations expected to experience a decline in oil and gas revenues exceeding 40% over the next decade. This group includes Angola, Bahrain, Timor-Leste, Equatorial Guinea, Oman, and South Sudan, highlighting shared economic risks for these states.
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Azerbaijan's non-oil and gas exports rose 3.5% year-on-year to $2.8 billion during the first ten months of 2024, the Center for Analysis of Economic Reforms and Communication (CAERC) reported in its November "Export Review."
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Azerbaijan Railways CJSC (ADY) will modify the schedules for commuter and domestic trains in line with the Cabinet of Ministers' decision to adjust work and rest days in November, aiming to ensure safe and comfortable travel during the COP29 event, the company announced.
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In Azerbaijan, the government has increasingly relied on tax exemptions for imported goods as a tool to stabilize domestic market prices. The exemption from the 18% VAT on wheat imports, extended this year, exemplifies this approach. New measures have also been introduced, including tax relief on imports of electric vehicle chargers, while exemptions for high-cost medications are currently under discussion. Notably, defense imports continue to be free from taxes and customs duties.
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