Rate on short-term loans for Russian agriculture is 5%-7% this year
SOCHI. Aug 3 (Interfax) - The rate on short-term loans for Russian agriculture this year is from 5% to 7%, Russian Agriculture Minister Alexander Tkachev said at a conference call on issues of carrying out the harvest on Monday in Sochi.
He said that such a rate was formulated with subsidies taken into account, which are available to agricultural producers from the federal and regional budget.
Speaking about loans for crop growth, Tkachev said that the amount of short-term loans given out this year was 137 billion rubles, which is 16% more than last year.
Tkachev said he was satisfied with signed government decree on decreasing the regional share of subsidizing loans to 5%. "The regions have been asking for this for a long time, the budgets are not feeling too well, however under such a level of subsidization, I am sure that the subsidies will be given out in full," Tkachev said.
This year short-term loan subsidies have been provided for the processing industry. This is also support for domestic agriculture producers, since, "we will support them through purchases of products for processing," he said.
"I hope that this year and next year this will be justify itself," he said.