The Russian government will allocate 60.6 billion roubles this year to boost competitiveness in the agricultural sector

Friday, February 3, 2023

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The Russian government will allocate 60.6 billion roubles this year to boost competitiveness in the agricultural sector, a government source told Itar-Tass. According to the source, the first two items on the Cabinet's agenda on Thursday are devoted to agriculture. Agriculture Minister Alexei Gordeyev will make a report on the results of work by his department in 2005 and the guidelines for 2006-2008. Gordeyev will also present a draft federal law on the development of agriculture which defines the basic principles of state support to rural areas in the next few years. The money the government plans to allocate to agribusinesses does not include the funds already earmarked for the priority national project in the agricultural sector. Of the new allocations, 7 billion roubles are intended for loans in cattle breeding, 8 billion roubles for boosting the authorized capital of the Rosagroleasing company, and 3 billion rouble for the buying of pedigree cattle whose stock continues to decrease. As a result of these injections, Russia will be expected to boost the production of meat by 7 percent and dairy products by 4.5 percent by 2007. The government source could not immediately identify the measures which will help achieve the targets. The Cabinet only plans to discuss the main guidelines and indicators, while concrete measures will be spelled out in the state program to develop the agricultural sector, he said.

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