Nikolai Fedorov, Minister of Agriculture of the Russian Federation, admits that the program of soft crediting of the Russian agro-industrial complex can be closed, due to a sharp rise of the key interest of the Central Bank of the Russian Federation.
According to him, the Government will unlikely provide crediting to agrarians at the level below the Central Bank interest rate of 17%.
Also, he reminded that the concessional crediting of any agro-industrial projects involves budgetary compensation of some part of interests on the credit at the sum of the full key interest or its part.
The general sum of outstanding credits in the agricultural sector in Russia totals nearly 2 trln RUR, the past-due debts - 156 bln RUR, said the Minister.
