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Russia may raise spending on agriculture to 204 billion rubles in 2015

September 16, 2014, 20:22 UTC+3 MOSCOW
On August 7, Russia banned imports of beef, pork, poultry, fish, cheese, dairy products, fruit and vegetables from Australia, Canada, Norway, the US and the EU to retaliate Western sanctions
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© ITAR-TASS/Yuri Mashkov

MOSCOW, September 16 /ITAR-TASS/. The Russian government plans to increase federal budget spending on the agriculture industry, including the fish sector, by 27.5 billion rubles ($708.4 million) to 203.5 billion rubles in 2015, according to the Finance Ministry’s documents seen by PRIME on Tuesday.

Budget financing of the agriculture development will be raised by 4.4 billion rubles ($113.3 million) from 165.7 billion rubles ($4.2 billion), while financing of the fish sector development will be increased by 3.1 billion rubles ($79.8 million) from 10.3 billion rubles ($265.2 million).

Both amendments have been included in a 2015-2017 federal budget draft prepared by the ministry. The total increase also includes 20 billion rubles ($515.3 million) of extra funds requested by the Agriculture Ministry.

In August, Prime Minister Dmitry Medvedev ordered the government to adjust the state agriculture development program to support domestic production of goods, whose imports have been banned, and implementation of an import substitution plan.

On August 7, Russia banned imports of beef, pork, poultry, fish, cheese, dairy products, fruit and vegetables from Australia, Canada, Norway, the US and the EU for one year to retaliate Western sanctions.

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