AGRICULTURE’S BUDGET TO GROW 24 PERCENT IN 2008

ARMENPRESS
Nov 5, 2007

YEREVAN, NOVEMBER 5, ARMENPRESS: Armenia’s agricultural ministry’s next
year’s budget will rise almost 24 percent to make 5.8 billion Drams.

Presenting these figures to lawmakers last Friday agricultural minister
David Lokyan said they do not include the money earmarked for maintains
of the ministry’s staff and several credit programs.

The minister singled out a seed cultivation project that will be
supported by a 105 million Drams release.

This money will be given to private sector as co-financing for
cultivation of high quality pedigree seeds. The anticipated outcome
is to become by 2011 a self-sufficient country in terms of pedigree
seed production.

The second largest project is to achieve 1 million liter milk
production by 2015. To this end the ministry began importing pedigree
cattle from European countries, particularly, 200 cattle will be
brought from Austria soon. They will be distributed to farmers. The
latter will repay their cost in four years without paying any
interest rate.

The third largest program is agriculture subsidizing. This will require
some 1.6 billion Drams, according to the minister. This project
will encompass some 100,000 rural families in 260 villages. This
year’s budget has earmarked only 230 million Drams for agriculture
subsidizing.