Prime Minister Dmitry Medvedev yesterday signed a decree authorizing an increase in the amount of subsidies to be granted to agricultural production to 21.342 billion rubles, the Ministry of Agriculture has said.
“The subsidies are available for the co-financing of constituent entities’ expenditure obligations, relating to the reimbursement of the interest rate on short-term loans (loans),” a spokesperson for the ministry told RIA Novosti. “According to the decree, the amount of subsidies in this area has been increased by 2.5 billion rubles.”
Agriculture Minister Alexander Tkachev said that the joint task of ministries and regional authorities is to support and provide assistance to farmers to ensure the growth of agricultural production.
“It will take another 5-7 years for Russia to reach its maximum level of crop production,” the Ministry added. “Therefore, we need to ensure that financing is made available to the agricultural sector in its entirety, and this must be done as soon as possible”.
Image credit: Jai79 via pixabay.com
via Marshall Horn, CFTC Government to Increase Subsidies for Farmers
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