(MENAFN- AzerNews)
Qabil Ashirov
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The Azerbaijani government is set to increase the allocation for
the Agriculture sector by over ₼30mln ($17.7mln) in next year's
state budget, Azernews reports.
According to information presented in the "State Budget of the
Republic of Azerbaijan for 2025" law project, which was approved
during the first and second readings by the Milli Majlis, the
agriculture sector was initially allocated ₼1,171,863,792
($689,331,642).
However, in the third reading presented to the parliament, the
allocation for the agriculture sector has been increased to
₼1,203,805,845 ($708,121,085). This represents an increase of
₼31,942,053 ($18,789,442) from the previous allocation.
This budget increase reflects the Azerbaijani government's
commitment to supporting and developing the agriculture sector,
recognizing its vital role in the country's economy. The additional
funds are expected to be used for various initiatives aimed at
boosting agricultural productivity, improving infrastructure, and
supporting farmers' livelihoods.
Agriculture has been identified as a key sector for economic
diversification in Azerbaijan, particularly in the context of
reducing dependency on oil and gas revenues. The increased funding
will likely contribute to advancements in agricultural technology,
modernization of farming practices, and expansion of market
opportunities for Azerbaijani farmers.
The decision to increase the budget allocation for agriculture
also aligns with the government's broader goals of ensuring food
security, promoting sustainable agricultural practices, and
enhancing rural development. By investing in the agriculture
sector, Azerbaijan aims to strengthen its economic resilience and
ensure long-term growth and prosperity for its citizens.
This significant budget increase demonstrates a proactive
approach to addressing the needs of the agricultural sector and
underscores the government's commitment to fostering a robust and
dynamic agricultural industry.
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