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Azerbaijani Finance Ministry shares forecasts of agricultural spending until 2025

Economy Materials 9 September 2021 17:29 (UTC +04:00)

BAKU, Azerbaijan, Sept.9

By Sadraddin Aghjayev - Trend:

The Ministry of Finance of Azerbaijan has published forecasts of budget spending on agriculture in 2022-2025, Trend reports on Sept. 9.

According to the ministry, more than 985.9 million manat ($580.2 million) is planned to be allocated for agricultural programs in 2022, and slightly over 1 billion manat ($588.2 million) - in 2023, 2024 and 2025.

Azerbaijan's projected spending on selected agricultural programs in 2022-2025:

Agriculture

2022

2023

2024

2025

985.9 million manat ($580.2 million)

1 billion manat ($588.2 million)

1 billion manat

1 billion manat

1

Crop development program

791.2 million manat ($465.6 million)

809.2 million manat ($476.2 million)

819.2 million manat ($482.17 million)

826.1 million manat ($486.2 million)

2

Livestock development program

75.7 million manat ($44.56 million)

79.9 million manat ($47 million)

74.6 million manat ($43.91 million)

77.3 million manat ($45.5 million)

3

Agricultural means improvement program

100.9 million manat ($59.39 million)

97.5 million manat ($57.39 million)

94.7 million manat ($55.74 million)

86.1 million manat ($50.68 million)

4

Agricultural insurance development program

5.3 million manat ($3.12 million)

6.4 million manat ($3.77 million)

7.7 million manat ($4.53 million)

9.2 million manat ($5.42 million)

5

Program for development of service sector, manufacturing enterprises related to agriculture

9.6 million manat ($5.65 million)

10 million manat ($5.9 million)

10.4 million manat ($6.12 million)

10.8 million manat ($6.36 million)

6

Reserve funds involved in the field of agriculture

3 million manat ($1.77 million)

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-

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In the first seven months of 2021, Azerbaijan’s GDP has grown by 2.7 percent and amounted to 47.3 billion manat ($27.84 billion), while in the same period of last year this figure was 40 billion manat ($23.5 billion).

At the same time, GDP in the non-oil sector has grown by 5.3 percent and amounted to 30.2 billion manat ($17.78 billion) against 27.5 billion manat or $16.2 billion recorded from January through July of last year.

(1 USD = 1.7 AZN on Sept.9)

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