Nearly $750 million subsidized in Azerbaijan’s agricultural sector since 2003
Azerbaijan, Baku, July 19/ Trend E.Ismayilov/
Around 587.17 million manat was allocated in the form of subsidies within the state support to agricultural producers in 2003-2013, Minister of Agriculture Ismet Abbasov said during the meeting of the Cabinet of Ministers chaired by the Azerbaijani President. The meeting was dedicated to the results of the social-economic development in the first half of 2013 and upcoming tasks.
According to him, the funds were directed for fuel and motor oil purchase, wheat and rice sowing, as well as, providing agricultural producers with fertilizers, seeds and seedlings. Some 427.1 million manat of concessional loans and other types of state support were allocated during the indicated period through the allocation of funds to conduct the activity and to improve the material-technical base of "Agroleasing" company.
The cost of the total volume of agricultural products in the country in 2012 exceeded 4.84 billion manat, the minister noted.
The official exchange rate for July 19 is 0.7844 AZN/USD.