BAKU, Azerbaijan, August 19. Last year, the full amount of funds allocated from the state budget for the agriculture sector was utilized.
Data obtained by Trend from the Ministry of Finance indicates that the budget had projected 1.2 billion manat ($705.8 million) for the implementation of 27 measures under seven programs carried out by six implementing organizations, reflecting an increase of 247 million manat ($145.2 million), or 25.8 percent, compared to the previous year.
Last year, based on the requests of executive organizations, 1.1 billion manat ($647 million), 106.8 million manat ($62.8 million) less than the forecast, or 91.1 percent of the planned amount, was allocated to the sector and fully utilized.
Additionally, 137.9 million manat ($81.1 million), representing 11.3 percent of the projected funds, was distributed as previously unallocated resources and was also used in full.
Nearly half (45.1 percent) of the sector’s budget was managed by the Ministry of Agriculture and its subordinate agencies, including the Agrarian Credit and Development Agency and the Agrarian Services Agency. Around 40 percent of the funds were executed by the “Regional Water Reclamation Service” under the State Water Resources Agency.
Based on sector performance indicators, in 2024, total agricultural production grew by 1.5 percent compared to the same period last year, while agricultural exports rose by 6.5 percent. Livestock accounted for 52.6 percent of total production, with crops contributing 47.4 percent, and the added value from agriculture, forestry, and fisheries represented 5.7 percent of GDP.
Under state support programs, the sale of 9,107 units of agricultural machinery and equipment was financed, 4,105 individuals and entities received preferential loans totaling 75.4 million manat ($44.3 million), and an additional 98.2 million manat ($57.7 million) in concessional funds was allocated.
