Czerván: a turnaround in the financing of agriculture

There is growing evidence that there has been a turning point in the financing of agriculture, credit growth continues to grow in the sector – the Minister of State of the Ministry of Agriculture (FM) said on Wednesday in Budapest at the meeting of the Agriculture Committee of the Parliament.

Czerván György at the 78th National Agricultural and Food Exhibition and Fair (OMÉK) reported that the loan portfolio of agriculture exceeded 655 billion HUF in the second quarter of 2017. Within this, individual loans amounted to about 315 billion HUF. Growth was driven by an increase in the lending portfolio of individual farms, which averaged 45 percent between 2012-2016 on average. The growth rate of corporate enterprises showed an annual average increase of 1.7 percent. (MTI)