More than Half of Azerbaijani Spending Goes to Food

Azerbaijani President Ilham Aliyev approved the “Multilateral Convention on the Implementation of Measures Under a Tax Agreement to Prevent Depreciation of the Tax Base and Transfer of Profits” on June 24. The law, ratified by the Milli Majlis, aims to enhance Azerbaijan’s tax compliance framework by aligning it with international standards to combat tax base erosion and profit shifting (BEPS).

Azerbaijan's efforts to encourage farmers to insure their livestock face significant challenges despite state incentives. The Azerbaijani government has offered reduced insurance premiums and subsidies covering 50% of the insurance costs to promote agricultural insurance. However, many farmers remain hesitant to participate in these programs.

At today's exhibition dedicated to the promotion of local companies in Baku, Deputy Minister of Labor and Social Protection Anar Aliyev said that the wage fund in Azerbaijan has increased significantly - 2.7 times. "The average monthly salary has increased by more than 80%," Aliyev said, adding that the ministry annually helps almost 100,000 people find jobs.

Azerbaijan has made significant strides in integrating renewable energy sources into its electricity grid, marking a notable increase in "green energy" production, according to recent data released by the Ministry of Energy on the occasion of World Renewable Energy Day.