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18 October, Wednesday

Ufa   °

Russian Agriculture Ministry increases state support of farmers

Economy/Business

UFA, 26 September 2017. /Bashinform News Agency, Galiya Nabieva/.

The Ministry of Agriculture is considering expanding government support for Russian entrepreneurs who are building farms. It is proposed to compensate agrarians for a part of the expenditures from regional budgets and granting grants, Izvestia reports.

If earlier the state support of entrepreneurs in the field of agriculture reached up to 60% of the total cost of farms modernization, now this figure may be increased to 80%. The remaining 20% will be compensated from the regions.

The Ministry of Agriculture reports that this initiative will reduce the financial burden on grantees, provide more participants in grant support, increase the pace of renovation and development of the material and technical base of farmers and cooperatives.

In addition, another recent proposal of the Ministry of Agriculture regarding farmers is to insure entrepreneurs against prolonged rains. It is offered to compensate businessmen for losses due to abundant rainfall. This innovation was immediately approved by most experts.

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