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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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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