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Russian farmers suffer $111 mln damages due to bad weather in 2018 — agriculture ministry

The agriculture ministry said farmers sustained losses as a result of a nature-made state of emergency in 27 Russian regions

MOSCOW, November 21. /TASS/. The damage caused by bad weather to Russian farmers in 2018 amounted to 7.3 bln rubles ($111 mln), the Russian Agriculture Ministry said in a press release.

"As of November 14, 2018, a nature-made state of emergency was introduced on the territory of 27 regions, the damage to agricultural producers amounted to 7.3 bln rubles," the ministry said.

The ministry noted that this year it plans to increase the costs to compensate farmers' expenses due to the redistribution of funds from other activities under the state program for the development of the agro-industrial complex. The ministry plans to allocate 1.86 bln rubles ($28.3 mln) in addition to budgeted 1.89 bln rubles ($28.7 mln).

In order to effectively use the federal budget funds and motivate farmers to conclude insurance contracts, the agriculture ministry submitted a special draft resolution to the government. It suggests that farmers with insurance contracts will get 100% compensation for their damages from the federal budget, while those who do not have insurance - only 50%. The document was approved by the government of the Russian Federation.

After the draft decree comes into force, the agriculture ministry will send a draft order to the government, which provides for compensation to the farmers in the amount of 3.75 bln rubles ($57.1 mln). Now the document is being approved by the Finance Ministry.