Azerbaijan changes procedure for subsidizing agricultural output

Economy Materials 14 March 2021 14:59 (UTC +04:00)

BAKU, Azerbaijan, Mar.14


The ‘Procedure for Subsidizing Agricultural Production’ has been amended in Azerbaijan, Trend reports citing the country’s Ministry of Agriculture.

According to the amendments, the rule of cash payment by farmers of 30 percent of the cost of fertilizers and vermicompost for the allocated subsidy has been canceled.

From now on, farmers will be able to pay the full cost of the purchased fertilizers and vermicompost by un-cashed amount using the ‘farm card’.

Besides, the amount of subsidy allocated from the budget during the calendar year and not provided to farmers will be returned to the budget.

The monitoring and evaluation functions of the Agrarian Credit and Development Agency of Azerbaijan have also been expanded.