The Ministry of Agriculture has prepared a new subsidy mechanism in the field of seed production. Under the new mechanism, which will soon be submitted to the Government, grants will be issued depending on the final product, said the head of the country's agricultural department Heydar Asadov at a meeting with international donors on June 6.
The ministry has already submitted a proposal to the Cabinet on the mechanism of subsidies in the cocoon production. It is proposed to provide farmers a subsidy of 2 manats per 1 kg of the product.
In other areas of agricultural production, since 2007 grants have been given based on the cultivated area (40 AZN per 1 ha, and additional 40 AZN ha for wheat and rice producers).
The Minister also noted that the additional public support will be given to tobacco, cotton and tea growing. --- 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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