The Azerbaijani government is set to increase the allocation for the agriculture sector by over ?30mln ($17.7mln) in next year's state budget.

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.