The compensation is for close to 22,600 farmers, Nagy said. Around HUF 49.7 bln of the total is for farmers hit by last year's drought, he added.
He noted that the resources earmarked by the government for the fund have more than quadrupled.
Payouts by insurance companies on claims on farm policies added up to around HUF 41 bln last year, the Agriculture Ministry noted.
The government assisted farmers further with a repayment moratorium, until end-2023, on HUF 286.6 bln in agricultural credit, an interest rate freeze for SMEs with non-subsidized credit, pre-financing of European Union farm subsidies, a scheme offering farmers cheap, subsidized working capital credit, and the extension of a price cap on motor fuel to farm vehicles, it added.
Producing journalism that is worthy of the name is a costly business. For over 30 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
