We expect growth in the use of preferential lending in the agro – industrial complex, - Alexander Kaznacheyev
"Since the beginning of the pandemic, the threat of the virus entering food production, with its high labor intensity and concentration of personnel, has been the subject of special control by both the companies themselves and the Ministry of agriculture", he said. - Maintaining the production potential of industries that form strategic food reserves will require maximum support.
The expert said that “MCB” has adjusted upwards its plans for financing companies engaged in crop production, dairy and meat farming.
- In this regard, the volume of use of the mechanism of preferential lending of the Ministry of agriculture and the Ministry of economic development will increase. In addition to these, I would also highlight support for the food industry. State support through subsidies for purchases of grain, flour and other raw materials for production, in our opinion, can solve the problem of restraining food prices, and maintaining the volume of the domestic market in conditions of reduced demand and export quotas, - summed up Alexander Kaznacheyev.
Earlier, we reported that the Central Bank lowered the key rate to a historic low of 4.5%.
The day before, it also became known that the head of the Ministry of agriculture reported on the results of the State program for the development of agriculture in 2019. According to Dmitry Patrushev, the index of agricultural production in farms of all categories in relation to the base year 2017 amounted to 103.8%, exceeding the target by one percentage point. In particular, the index of crop production in 2019 compared to 2017 amounted to 104.5%, which is 2.2 percentage points higher than the planned value. The index of livestock production was 102.7% compared to 2017. In 2020, it is expected to increase production in livestock, including at the expense of milk and meat, which is confirmed by data for 5 months of this year.
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