Favorable financing environment lifts farm investments

Telco

pixabay

Hungarian farmersʼ investments rose sharply, albeit from a low base, in the first quarter, lifted by low interest rates and preferential financing, the Ministry of Agriculture said on Friday, Hungarian news agency MTI reported.

Hungarian farmersʼ investments rose 48% year-on-year to HUF 64.5 billion in Q1, the latest data from the Central Statistical Office (KSH) shows.

Spending on farm machinery jumped 75% to HUF 31 bln during the period, according to data from the Farming Research Institute (AKI), the ministry said.

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