Azerbaijan allocates nearly $100 million to farmers in 2011
Azerbaijan, Baku, March 1 / Trend A.Akhundov /
Last year, Azerbaijani farmers were granted 76.2 million manat in subsidies to purchase motor oil and fuel. the Azerbaijani Agricultural Ministry said on Thursday.
"To purchase engine oil and fuel, which was used by 390,084 agricultural producers for the cultivation of perennial crops and the cultivation of more than 1.319 million hectares of sown area assistance worth 52.8 million manat was provided in 2011 due to the funds of the state budget," the report said.
Since 2007 farmers in Azerbaijan have been receiving subsidies from the state budget.
Subsidies for motor oil and fuel purchases in the amount of 40 AZN for each hectare of cultivated area are issued in accordance with the Azerbaijani president's decree to provide state support for agricultural producers.
In accordance with the law "On providing tax incentives to producers of agricultural products", adopted on November 27, 2001 farmers in Azerbaijan are exempt from all taxes (except for land).
The official exchange rate is 0.786 AZN to $1 on March 1.