Azerbaijani leasing companies faced serious competition in agricultural sector

Baku. 1 August. REPORT.AZ/ Private leasing companies in Azerbaijan are gradually leaving agricultural sector.

Report informs, a source in leasing market said.

According to the information, the reason is inability of leasing companies to compete with "Agroleasing" of Ministry of Agriculture.

"The state-owned company offers farmers agricultural machinery, livestock at 40% discount. Because the damage is compensated at the expense of budget. Private leasing companies can not do it. Because they attract funds from abroad to buy agricultural equipment, so they pay interest, as well as expect profit. Ultimately, almost all leasing companies are losing in competition with "Agro-leasing", said the source.

Leasing companies gradually moving from the agricultural sector to leasing car, medical equipment, real estate and land.