President Ilham Aliyev has signed two decrees aimed at supporting the development of agricultural production.
According to the decree of April 15 "On additional measures to strengthen public support for the development of crop", the amount of subsidy (40 manat per 1 ha) to be provided for the fuel and motor oil consumed in the production of agricultural products increased by 25%. This measure has been taken in order to promote the implementation of the re (interim) crop.
The same document instructed the Ministry of Finance to provide assistance to agricultural producers for fuel and engine oil used in the cultivation acreage, as well as a subsidy for the subsidized sale of mineral fertilizers in the implementation of the re (interim) crop.
The other order applies a benefit to the sets of equipment and irrigation systems sold or transferred for leasing by the state-run JSC Agroleasing. The size of the benefits that will be paid from the state budget will amount to 40% of their original cost.
The document was adopted in order to eliminate the negative effects of prolonged drought, improve water supply, increase interest in business to this area and stimulate investment in modern irrigation systems.
The Cabinet of Ministers is in charge of determining the order of benefits applicable in respect of sets and equipment of irrigation systems in two months.
Note that the government has declared 2015 the Year of Agriculture. 08D
Economics
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Azerbaijan has taken a step toward diversifying its agricultural sector by launching the country’s first commercial banana production, with local producer Fruitland introducing tropical fruits to the domestic market.
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Azerbaijan, Georgia, Turkey, and Bulgaria have agreed on the draft text of a memorandum of understanding in the field of green energy transmission, marking a significant step in the development of sustainable energy ties in the region. The document aims to expand energy exchange between the countries and establish a legal framework for the Green Energy Corridor project.
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Azerbaijan’s labor market has expanded, with the total number of employees in the country’s economy reaching 1.78 million as of early January 2025, according to preliminary data from the State Statistics Committee. The data reveals a nearly equal distribution of employment between the public and private sectors, with 882,800 people working in state-run institutions and 895,700 in the non-public sector.
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