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Armenia's Agriculture Shows 9.5% Growth Last Year

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  • Armenia's Agriculture Shows 9.5% Growth Last Year

    ARMENIA'S AGRICULTURE SHOWS 9.5% GROWTH LAST YEAR

    TERT.AM
    14:47 ~U 28.02.13

    Armenia's Statistical Service reports 9.5% growth in the country's
    agricultural sector in 2012 as compared with 2011.

    At his meeting with journalist on Thursday, Armenia's Minister of
    Agriculture Sergo Karapetyan said the growth was possible due to
    government assistance programs. Under the major programs, Armenia's
    farms were provided with nitrogen fertilizers and diesel fuel.

    "The gross agricultural produce totaled AMD 840.5bn. This January we
    recorded 2.1% growth as compared with last January. Last year they
    were provided with up to 37,000 tons of nitrogen fertilizers and
    25,000 tons of diesel fuel," Mr Karapetyan said.

    Armenia's government plans to provide 31.4 thousand tons of nitrogen
    fertilizers to Armenia's agricultural sector this year.

    "This is serious aid to farms. We will continue issuing loans. Banks
    grant loans to at an annual interest rate of 14%. But they grant
    agricultural loans at an annual interest rate of 10%," Mr Karapetyan
    said.

    Moreover, socially vulnerable families can apply for loans at an
    annual interest rate of 8%.

    "More than 43,000 farms have received loans exceeding AMD 32bn,"
    Mr Karapetyan said. An AMD 7.5bn lending program has been approved
    for this spring.

    Mr Karapetyan also singled out a program of supplying seeds to farms.

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