BAKU, Azerbaijan, Oct.30
By Nargiz Sadikhova - Trend:
Value of funding of small entrepreneurship businesses in agriculture sector of Kazakhstan amounted to 106.2 billion tenge ($274.1 million) as of October 1, 2019, which is 1.6 percent more than the previous month, Trend reports with reference to Kazakhstan’s National Bank.
The value of total lending to legal persons in the agriculture sector was 91.9 billion tenge during the reporting period (approximately $237 million, increase of 5.5 percent). For the most part, legal persons preferred long term loans denominated in tenge during the reporting period (59.4 billion tenge or $153.4 million, increase of 6.1 percent).
Value of foreign currency denominated long term lending to legal entities was 17.5 billion tenge or $45.1 million, which is 0.1 percent more than during the reporting period.
Furthermore, value of lending to physical entities working in agriculture was 14.3 billion tenge or $37.1 million, which is 0.8 percent less than during last month.
According to the information, physical entities also preferred long term leans denominated in tenge (11.3 billion tenge or $29.3 million, decrease of 1.2 percent).
Furthermore, value of foreign currency denominated lending to physical persons was 728 million tenge ($1.8 million, decrease by 1.1 percent), whereas tenge denominated short term lending to physical persons was 2.2 billion tenge ($5.8 million, decrease of 1.1 percent).
Agro-industrial complex of Kazakhstan plays a key role in country’s economy. Its development 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, and ensuring the availability of sales markets and export development, and the development of rural areas are among it. Country's agro-industrial complex was set a goal to radically increase of labor productivity and growth of processed agricultural products exports at least 2.5 times. All this will provide key conditions for the development of the agro-industrial sector.
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