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Ukrainian farmers UAH9 milliard short to finish autumn field works
29.07.2016 21:46 "Agro Perspectiva" (Kyiv) —
Within this year, the Ukrainian farmers will finance 90% of the costs of the autumn field works, what totals
UAH89.7 milliard, from its own funds, UNIAN says referring to the
Ukrainian Ministry of Agrarian Policy and Food report.
As to the report, the remaining 10% of the funds needed will be attracted by farmers through bank loans (UAH4.9 milliard) and commercial loans (almost UAH4 milliard).
«As of this year Jul 29, the actual expenditure of agricultural enterprises total UAH 21.8 milliard, accounting for 24.3% of the planned demand, including UAH19.5 milliard of own funds spent, what is 24.2% of the demand, and loans attracted worth UAH2.3 milliard, or 25.9% of demand,» the Ministry says.
As to the Ministry, interest rates on loans for farmers for their autumn field works range 17.5% 30% per annum.
As to the earlier report, the Ministry estimates the cost of the Ukrainian spring field works this year amounted to UAH79.3 milliard (up against last year UAH65 milliard); as to Ministry, last year autumn field works costed UAH80 milliard.
It is to be admitted, the Ministry has repeatedly stressed that the annual interest rate on loans in the Ukrainian banks is too high for agricultural companies, what forces the Ukrainian government to develop alternative ways of lending to the country agricultural sector.
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