Armenian Ministry of Agriculture elaborates a project to subsidy loans to entities procuring grapes, tomatoes and milk

ArmInfo. The Armenian Ministry of Agriculture is elaborating a project to subsidy the loans provided to the entities procuring grapes, tomatoes and milk, Agriculture Minister Ignaty Arakelyan said during his visit to Ararat province.  

"To participate in the project, the entities should pay for the products supplied by the farmers within 3 days," he said, noting that efforts are currently being exerted to that end. "If the project is launched, there will be no procurement problems in 2 years. At first, the financial means will be limited and the subsidized loans will be targeted - they will cover grapes, tomatoes and milk," he said, adding that the list of the sectors enjoying subsidized lending will be enlarged in the future.       

According to the National Statistics Service of Armenia, in Jan-Dec 2016 versus Jan-Dec 2015 the gross agricultural output dropped by 5.2% to 907.5 bln AMD, with the decline in plant growing being 11.7%.  A year before, in Jan-Dec 2015 versus Jan-Dec 2014 the agrarian sector demonstrated 11.7% growth (up 15.2% in plant growing).