At yesterday's conference on the results of the first year of the "State Program on socio-economic development of regions of Azerbaijan in 2014-2018" the Minister of Agriculture Heydar Asadov announced increase in fruit and vegetable exports to $ 291 million (+ 16.1% compared to the year 2013) and increase in imports to $ 25.2 million (minus 13.5%).
"Reduction of fruit import by 32.7% in physical terms and vegetables and melons import by 47.3% indicates increase in the role of domestic production to meet the needs of the domestic market," he said, noting the growth of livestock by 21%, meat production - by 46.4% and milk production - by 53%.
As part of efforts to provide direct assistance to the development of crops farmers in the country were provided financial assistance of 20.1 million manat for sowing wheat and rice, while AZN 51.8 million was spent on the purchase of fuel and motor oil for the treatment of cultivated areas and perennial plants, the minister said. --17D-
Economics
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Azerbaijan is set to significantly increase the proportion of electricity generated from renewable sources, currently standing at 14.4%, Deputy Economy Minister Samad Bashirli announced on Thursday at the Think Tanks Forum of the Organization of Economic Cooperation (OIC) held in Baku.
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Azerbaijan has entered into a partnership with Italian energy firm Technip Energies SpA to implement a pyrolysis oil production project aimed at enhancing waste recycling and promoting sustainable development, officials said on Tuesday.
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Belarus and Azerbaijan signed multiple cooperation agreements on Tuesday following talks between Belarusian Prime Minister Roman Golovchenko and Azerbaijani Prime Minister Ali Asadov during Asadov’s official visit to Minsk on October 3.
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Azerbaijan's state borrowings continue to increase, despite the country still benefiting from high global oil prices. The Ministry of Finance of Azerbaijan reported that as of the first half of 2024, the country's state debt amounted to 25 billion manats, which corresponds to 21% of its Gross Domestic Product (GDP).
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