BGN 10.6 M RELEASED FOR FARMERS` ASSISTANCE

Business | October 7, 2001, Sunday // 00:00

The Board of Directors of the Agriculture Fund decided to release BGN 10.6 M under two credit lines in assistance to farmers. The money will be divided equally for the purchase of wheat seeds and fertilizers for winter and spring wheat. `In addition to the two credit lines, BGN 3.53 M will be available in a direct subsidy,` Agriculture Minister Mehmed Dikme said. A mere 10 % of the land has been cropped and there is a risk that the land under wheat may be 30 or 35 % less than last year.The credit lines and the subsidy will cover 80 % of the farmers` outlays according to the Fund`s standards for expenses per hectare. It is out of the question to adjust assistance to the extent of damage caused by the drought in individual regions because the resources are strictly limited, Dikme said. Dikme also said that under an agreement with the Finance Ministry, all producers hit by the drought will be exempted from VAT. Agriculture Ministry statistics show that the drought destroyed nearly 120,000 ha of maize and about 44,000 ha of sunflower.

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