Minister: Azerbaijan studies new mechanisms of subsidising farmers
Azerbaijan, Baku, May 6 / Trend A.Akhundov /
Azerbaijan will increase subsidies to farmers, Agriculture Minister Ismet Abasov told reporters on Saturday.
"Together with the Ministry of Economic Development, Government of the country we are considering new mechanisms of subsidising farmers," Abasov said.
He said the new mechanisms aim to increase subsidies and more efficient use of these funds.
Agricultural subsidies have been granted in Azerbaijan since 2007. As part of changing the form of issuing grants to local farmers, it is proposed to give not monetary, but trade subsidies - in the form of mineral, phosphorus, nitrogen and other fertilizers.
It was decided on March 7 to grant subsidies for 2012 at 25.189 million manat. The ministry received appeals from 58 regions (cities) of the country.
Subsidies will be provided to 168,893 legal entities and individuals - producers of agricultural products for doing work on 629,700 hectares of land.
Payment of subsidies has already begun through the plastic cards of an authorized agent - Kapital Bank.
The official exchange rate is 0.786 AZN to $1 on May 6.