The State Commission on Agricultural Subsidies supervised by the Ministry of Agriculture adopted a decision on the allocation of 63.2 million manats for the use of fuel and motor oil in the cultivation of 1 million 264 thousand ha. The subsidies from JSC Capital Bank will be received by 372,234 manufacturers.
This year, which the government announced the Year of Agriculture, the subsidy was increased from 40 to 50 manat per hectare. Therefore, the total amount of grants awarded increased in comparison with 2014 by 11.4 million manats or 22%.
The Ministry of Agriculture reports that the list of people, who receive subsidies from the state budget, is posted on its website (www.agro/gov.az). This practice has been applied since 2013 with the purpose to increase transparency in the allocation of subsidies. The Republican Commission detected facts of misappropriation of these funds by officials in previous years.
It should be noted that on 16 March, the Commission also provided over 17 million AZN to 129,000 producers of wheat and rice, who planted these important crops on 426.3 thousand ha.
Recall that the state pays to suppliers 70% of the cost of fertilizers at a reduced price. Just this month the Republican Commission decided to grant subsidies to 5 importers (JSC Agroleasing, LLC Agrokimya, GBR Trade, Phyto Trade and Micro Az Feed), amounting to 7 million 280 thousand manats for the reimbursement of 70% of the preferential sale to farmers of 17,841 tons of mineral fertilizers. -08D-
Economics
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BP, the operator of the Shah Deniz gas condensate field, announced on Sunday that production from the Shah Deniz Alpha platform resumed on the evening of January 18. This followed the complete resolution of a technical issue with the subsea condensate export pipeline between the Shah Deniz Alpha platform and the Sangachal terminal.
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SOCAR President Rovshan Najaf met with the Minister of State for Petroleum of Pakistan, Musadik Malik, on January 18. According to SOCAR, the discussions covered joint energy projects, achieved outcomes, and cooperation opportunities in various areas, including the trade of petroleum products.
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The State Statistics Committee of Azerbaijan reported that in 2024 investments in fixed assets reached 21,435.1 million manats, which is 0.7% less than in 2023. While overall figures edged lower, the sectoral breakdown reveals notable disparities between the oil and gas sphere and non-oil industries.
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Azerbaijan’s industrial enterprises and individual entrepreneurs reported a modest 1.1% year-on-year increase in industrial production during 2024, reaching an output valued at 64.1 billion manat. The State Statistics Committee attributed the overall growth to a 0.5% expansion in the oil and gas sector, while non-oil and gas industries surged by 7.3%.
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