AKI: HUF 517 billion were paid for agricultural and rural development subsidies

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According to the newsletter available on the AKI’s website, 53.5 percent of the subsidies were payments from the Rural Development Program, which exceeded HUF 276 billion. The share of arable crop production within the subsidies was decisive in the first nine months of 2022, this sector received more than a quarter of the funds; livestock breeders used 24.2 percent of the subsidies, gardeners 6.1 percent. Within the framework of the national agricultural damage mitigation system (Pillar I), damage mitigation in the amount of HUF 11.2 billion was paid to eligible producers in 2022 to compensate for damages caused by the weather in 2021, they wrote.

They also mentioned that the credit portfolio of agriculture increased by 14.6 percent to HUF 1,025.5 billion by the end of September compared to the same period of the previous year

Within this, the proportion of preferential loans was 66.6 percent, and the share of market loans was 33.4 percent on the last day of the month. The loan stock of individual farms active in agriculture increased by 4.7 percent to HUF 408.9 billion, the loan stock of agricultural cooperatives increased by 22.3 percent to HUF 616.7 billion. The credit portfolio of the food industry rose at a higher rate than that of agriculture, by 19.3 percent to HUF 734.5 billion by the end of the third quarter, AKI announced in its latest quarterly financial newsletter.

MTI