Azerbaijan discloses amount of subsidies paid to farmers

Economy Materials 15 February 2022 16:24 (UTC +04:00)
Azerbaijan discloses amount of subsidies paid to farmers

BAKU, Azerbaijan, Feb. 15

By Samir Ali - Trend:

The Agrarian Credit and Development Agency under the Azerbaijani Ministry of Agriculture paid subsidies to 159,500 farmers in the amount of 61.8 million manat ($36.3 million) for the autumn crops of 2021-2022, the ministry of agriculture told Trend.

According to the ministry, subsidies have been transferred to the "farm cards" of agricultural producers.

Farmers can cash out 25 percent of the funds transferred to the card through ATMs and spend 75 percent [non-cash assets] to purchase machinery and other necessary equipment in accordance with the law.

According to the decision of the Agricultural Subsidy Council, a subsidy in the amount of 210 manat ($123) is being paid to farmers for each hectare of grain crops in 2021-2022. Today, the subsidies cover about 300,000 hectares of sown areas.

“The sowing process and documents of farmers possessing land plots are being verified,” the ministry said. “The payment of subsidies for autumn crops is planned to be completed in the appropriate period.”