Agriculture of Russia in 2017 will receive 75 billion rubles of subsidies

Meeting of Russian Ministry of Agriculture. Photo: agromedia.ru

According to the press service of the Ministry of Agriculture of Russia, on the Russian government meeting it was decided to allocate subsidies to the amount of 75 million rubles for the development of agriculture of Russia in a way that they mostly go to subsidize investors, providing preferential credit rates (reimbursement of part rates to banks) and the direct compensation costs of creating and retooling of facilities.

Name of subsidyVolume of subsidy, bln RURShare of subsidy
Subsidies for preferential lending rates for investors in agriculture58.878.4%
Compensation of expenses for modernization and creation of new objects in agriculture11.515.3%
Expenditures under the state program of melioration4.45.9%
Subsidizing banks preferential rates for development of aquaculture and sturgeon breeding0.3730.5%

Source: Russian Ministry of agriculture

Thus, the Ministry of agriculture doubles the subsidies under the program of land reclamation in comparison with the year 2016 (when it has been allocated 2.1 billion rubles), which the Department expects to expand the area of land reclamation and regional coverage of the program.

The Ministry also informs about efforts to reduce paperwork and simplified the procedure for obtaining investkredit that will allow investors to get budget money faster.