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Russian farm produce to grow 23% in five years - PM

by 5m Editor
12 July 2007, at 10:50am

MOSCOW - Russia's premier said domestic farm production will increase 23% by 2012 under the government's five-year agricultural program, with agricultural development being one of the national welfare projects.

"The five-year program provides for a 23% increase in agricultural production by 2012, which is a substantial rise," Mikhail Fradkov told the government

Annual budget support for farming is to be gradually increased from 60 billion rubles this year to 130 billion in 2012, which is expected to secure agricultural growth of 4% a year against the current 2.8%, a government source said. "The total funding for five years will be 551.3 billion rubles [$22 billion]," the source said.

The Agriculture Ministry said it wanted to increase domestic meat and dairy consumption to 70% of the total amount consumed, a government source said.

"It meets the interests of national product security," the source said, adding that no additional quotas on agricultural imports were expected. "If there are not enough domestic products, then the products should be imported," he said.

Source: RIA Novosti

5m Editor