FM: grants and favorable credits also help the farmers

Nearly 400 billion HUF European Union and about 100 billion HUF national support will flow into the Hungarian agriculture this year, contributing to farmers’ income stabilization – Czerván György Minister of State of the Ministry of Agriculture (FM) informs.

The Minister of State said that the loan portfolio of the social economy enterprises decreased by 24 percent from 2011 to 2016 while the loan portfolio of agriculture joint enterprises grew by 22 percent. The loan portfolio of individual farms increased even more significantly, over the same period, by 51 percent, reflecting an increase in bank trust – Czerván György explains. He added that the lowest bankruptcy rate of 1.9 percent is in agriculture among the nation’s economic sectors. (MTI)