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Agricultural subsidy system can be changed

Minister of Agriculture said that subsidy system of this branch can be changed in 2015.

17.Jul.14 8:56 AM
By Mikhail Prygunov


Agricultural subsidy system can be changed
The head Minister of Agriculture Nikolay Fedorov is planning to make several changes in agricultural subsidy system in 2015. This information was provided during a meeting that was devoted to development of dairy farming.

Fedorov is sure that it is rather important that subsidies under the interest rate were transferred directly to agricultural producers. All other questions regarding agreements with banks Ministry of Agriculture will handle on its own.

Agricultural producers are forced to pay the interest rate on their credit on their own. This also includes a part of subsidies which are provided by the government. Reimbursement rate of credit sometimes make take a lot of time which results in certain inconveniences and lack of time for producers. At the same time reimbursement rate of investment credits may sometimes last up to several years.

Agricultural subsidy systems have also been discussed during the meeting. Major points are aimed on exporting goods. Fedorov is sure that those producers, who are mainly aimed on export, need a high level support from the government. This is due to the fact that major part of their products is processed on the territory of Russia. This helps to create new working places and additional income from taxes.

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