Agriculture Industry Optimistic With EU Rural Development Program

Crops

Vladimir Kayukov via Shutterstock.com

Hungarian agriculture and the food industry are characterized by an optimistic mood with the launch of the European Union's Rural Development Program, according to an MBH Bank public opinion survey examining the situation of domestic agricultural enterprises, writes profitline.hu.

Approximately HUF 1.5 trillion in investment support is coming to the sector. Some 43% of farmers plan to participate in the soon-to-open tenders in the next six months.

A third of the companies also plan to replace old machines, vehicles, and equipment, and a similar proportion will look for new and, if possible, cheaper suppliers.

Agricultural enterprises are not preparing for layoffs or wage cuts; rather, they trust in growth.

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