June 19 2003, 14:31

Russian AgMin plans to increase state support of agro-insurance to 75 pc by 2007

The Ministry of Agriculture of the Russian Federation offers to increase state support of insurance of agricultural crops up to 75 % of a crop of the agricultural enterprises from current 12.5 % by 2007. In the materials of the Ministry of Agriculture were also noted that realization of this plan requires increasing federal budget up to 6 billion rubles.

In 2002 the state support of insurance of a crop covered 10.2 % of agricultural organizations in 35 subjects of the Russian Federation. The total sum of grants has made 284 million rubles, or 15.4 % of the insurance installments charged on agreements against 50 % that are stipulated by the Federal law. The assignments in the approved budget for 2003 year have been increased up to 900 million rubles and that allows to provide state support (while the share of grants in the common insurance installments at the rate of 50 %) about 12,5 % of a crop.