Gov't mandates repayment moratorium for drought-hit farmers

Crops

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Hungary's government is mandating a repayment moratorium on investment and working capital credit for farmers impacted by the drought from September, Agriculture Minister István Nagy said in a post on Facebook on Sunday.

The measure, in force until the end of September 2023, is being taken on the basis of a proposal by an operative corps established to assess and manage the effects of the drought on Hungary's farming sector, Nagy said.

The government is also earmarking HUF 3 billion in support for feed deliveries to livestock farmers and HUF 1.4 bln for higher irrigation energy costs, he added.

He said insurers will have 14 days to make payouts to farmers with drought policies from the time they submit claims.

The operative corps is continuing its work on short-, mid-and long-term solutions to the drought situation and welcomes farmers' proposals, he added.

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