There will be no “per hectare” subsidies

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The Government is changing the rules of lending to agribusiness projects

New mechanisms of agricultural subsidies, tariff reductions, compensation for employers. These topics have been discussed today at a meeting of the Government of Kazakhstan.

Let's start with one of the fundamental news - The Government allocates a significant amount for additional capitalization of the authorized fund of national holding "KazAgro". 25 billion tenge will be allocated from a special Government reserve, reported the Minister of National Economy Erbolat Dosayev. "In order to increase capacity of borrowing and attraction of additional funding for agribusiness projects, it is planned to allocate 25 billion tenge from the Special Reserve of the Government to increase the authorized capital of JSC "NMH "KazAgro", - said today at a Government meeting the Minister of National Economy Erbolat Dosayev.

He also informed about the upcoming innovations in the sphere of crediting of agriculture. "As part of the reform of the sphere of agrarian and industrial complex by the instructions of the Head of State, it is planned to eliminate subsidies per hectare in crop production in 2016 and to reduce from 2017 “ volume grants” in animal husbandry with the transition to support measures under the “green box”, contributing to technological modernization and productivity growth in agriculture", - said E. Dosayev.

The package of measures will be taken "to enhance the competitiveness of basic industries".

"In support of the different branches of the industries, the competitive enterprises will benefit temporary reduction factors for tariffs of BRN services for the carriage of goods and transmission of electricity, the measures for protection of domestic market are applied, long-term contracts with local producers, and others", - said the minister.

Significant finances will be allocated to support the employment of Kazakhstani residents. "By the order of the Head of State 98.9 billion tenge will be allocated from the Special Reserve Fund of the Government, which was established in 2016 (225.5 bln which were generated due to exchange rate difference oftarget transfers from the National Fund, envisaged for 2016)," - said the Minister .

At the same time, including 63 billion tenge for implementation of the updated “Roadmap of employment 2020” in addition to the dedicated 37.8 billion tenge in 2016. Another 37 billion tenge are intended to launch projects on repair of social infrastructure and housing facilities by the analogy to the Roadmap of 2009 2010 with the creation of 18.3 thousand jobs".

"20 billion tenge to increase micro-credit, of which 10 billion tenge will be allocated to increase the loan size from 3 to 6 million tenge for the organization of small-scale production based on private farms", - said the minister.

According to calculations of the Ministry of National Economy, Kazakhstani residents will be able to get the "5 thousands of microloans", and there will be created "about 6 thousand jobs".

In addition, "2.5 billion tenge will be allocated to subsidize employers' costs to preserve jobs (0.9 bln) and education (1.6 bln.), covering about 20 thousand people."

Zhanar Serdalina