23 Sep 2024 19:40

Kazakhstan to increase funding for agriculture 20% from 2025

ASTANA. Sept 23 (Interfax) - Kazakhstan's government intends to increase funding for agriculture 20% to 700 billion tenge from 2025.

"For the first time, the volume of preferential funding has been tripled, reaching a record 580 billion tenge. These funds will be allocated to farmers for direct loans, lower interest rates and forward purchases. From next year, funding for the sector should increase to 700 billion tenge," the government press office said.

Farmers should start to receive the money by the end of 2024.

More than 2,000 farmers upgraded their fleet of agricultural machinery thanks to the increase in preferential financing for its purchase.

"The country's farmers bought about 20,000 units of agricultural machinery, the renewal rate was 5%. This should increase to 5.5% by the end of this year and to 6.5% next year. Given the domestic market's needs, instructions have been given to increase the capacity of Kazakh enterprises for the production of agricultural machinery," the press office said.