Kazakhstan to cover over $30M worth of subsidies debt
BAKU, Azerbaijan, Dec.4
By Nargiz Sadikhova - Trend:
Kazakhstan’s government has made a decision on debt closure on animal husbandry subsidizing worth 36.8 billion tenge ($95 million), Trend reports with reference to the press office of Kazakhstan’s Ministry of Agriculture.
Furthermore, the debt on investment subsidies worth 11.7 billion tenge ($30.2 million) will also be closed.
According to the press office, the need for animal husbandry subsidies and investment subsidies, which stays the same year after year, will be fully covered.
Thus, according to the decision of the government, debt before agricultural producers worth 28.5 billion tenge ($73.5 million) has already been covered.
“Overall due to the state support, investments attractiveness of the agriculture increases, which will provide for implementation of target indicators on attracting investments into the fixed capital,” the report said.
Furthermore, some 113 investment projects worth 4.4 trillion tenge ($11.3 billion) are being implemented in Kazakhstan’s agriculture.
Agro-industrial complex of Kazakhstan plays a key role in country’s economy. Its growth will balance sustainable development of the country, will increase labor productivity and will provide increase in living standard of the main part of population. State Development program of agro-industrial complex till 2021 is being implemented currently.
The program provides for implementation of 10 tasks as well as for ensuring the availability of sales markets and export development, and the development of rural areas.
Follow the author on twitter: @nargiz_sadikh