Minister of Economy Mikayil Jabbarov announced that the use of funds in VAT accounts will be expanded.
In an interview with AZERTAC and ITV, the minister said they are working on expanding the mechanism for subsidizing bank loan interest rates.
"We first used this tool widely during the COVID pandemic and it yielded results. Now we want to apply it more broadly," the minister noted.
Measures to reduce logistics and transportation costs are also being considered. The third issue is using VAT account funds for social insurance payments.
The minister also provided information on investment promotion mechanisms and concessional loan programs. Over 200 million manat in loans are provided annually to small and medium-sized businesses.
