At the 12 August meeting of the National Commission on agricultural subsidies under the chairmanship of Deputy Minister of Agriculture Ilham Guliyev it was decided to allocate cash grants of 25,785,600 AZN to 180,800 producers of crops in 27 districts.
Subsidies are provided for the use of fuel and engine oil at the rate of 40 manat for each hectare of land cultivated. This is the second such decision this year. This time the Commission has allocated funds for 651 092.8 ha. The last time (July 24th) a subsidy of 26,043,700 manat was received by 203 000 producers for the cultivation of 651 092.8 ha of land.
These subsidies have been granted since 2007, after the increase in state prices for fuels and lubricants. Subsidies are provided for the use of fuel and engine oil at the rate of 40 manat for each hectare of land cultivated. The State encourages the production of wheat and rice in the form of additional financial aid in the amount of 40 manat per hectare.
This year, the agricultural subsidies from the state budget are provided at the level of 131 million AZN. For transparency in the allocation of grants the Ministry of Agriculture has put the names of individuals receiving subsidies from the state budget on its online resource (www.agro.gov.az) since December 2013 --08D--
Economics
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Azerbaijan’s gross domestic product (GDP) reached 126.3 billion manats in 2024, marking an increase of 3 billion manats, or 2.4%, compared to the previous year, according to data released by the State Statistics Committee. In 2023, nominal GDP stood at 123 billion manats.
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The latest data from the State Statistics Committee reveals that as of December 1, 2024, the total number of salaried workers in Azerbaijan stood at 1.775 million, with 884,400 employed in the public sector and 890,900 in the private sector. This figure falls significantly short of the government's ambitious targets set seven years ago, raising concerns about employment opportunities, particularly for the country's burgeoning youth population.
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Azerbaijan's legal and physical entities engaged in trade operations with partners from 176 countries between January and November 2024, exporting goods to 120 nations and importing from 167, according to the State Customs Committee.
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Azerbaijan's retail trade turnover climbed 3.9% in real terms in 2024 compared to the previous year, reaching a total of 62.2 billion manats, the State Statistics Committee revealed. Food, beverages, and tobacco accounted for 34.1 billion manats, while non-food products contributed 28.1 billion manats to the total.
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