Банкеръ Weekly

Briefs

BGN30MN-PLUS IN SUBSIDIES FOR GRAIN PRODUCERS

A total of BGN5.1MN has been earmarked by the State Agriculture Fund to help grain producers gather the new harvest. Tenant farmers are assisted by BGN1 per decare under that financial line.The money for the coming autumn campaign has been raised from BGN8.65MN to BGN10MN through redirecting money from the reserve for short-term financing, projected by the Agriculture Fund in the beginning of the year. This transfer was necessitated by the severe injuries due to the heavy rains and hailstorms, the hike of fuel prices and for ensuring certificated wheat seeds. The Agriculture Fund needs additionally BGN25NB for the autumn campaign in order to secure the normal sowing of 5 million dca for wheat for the 2006 year crop. The money could be ensured by updating its planned account, but it should be approved by the National Assembly. If for one or another reason such a decision is not made on time, the Agriculture Fund will allocate BGN20MN for short-term crediting of the autumn campaign. The money will be remitted from the fund's own budget, from the initially projected amount for long-term investment crediting. Grain producers will get BGN7.4MN-plus in state subsidies for the purchase of mineral fertilizers (approximately 2.50 per decare). The money will be allocated in the form of a target credit with a redemption term by the autumn of 2006 and a 3% annual interest. However, the Agriculture Fund demands from the receivers of subsidies a mandatory insurance against freezing, hails, storms, fires and torrential rains. A farmer may apply for a subsidy for 6,000 dca at the most.

Facebook logo
Бъдете с нас и във