• • • Agriculture will be contributing to GDP growth again this year

• • • Agriculture will be contributing to GDP growth again this year

“Agriculture is expected to significantly contribute to the growth of the whole domestic economy again this year”, the Minister of State for Agriculture said in Balatonfüred at a conference organised by the National Chamber of Agriculture (NAK). Mr. Feldmann highlighted that the increase in agricultural performance is mainly being driven by the rapeseed, maize, apple and poultry sectors. “GPD increased by 4.7 percent in the first three quarters of 2018, and according to data from the Central Statistical Office, the added value of agriculture also increased. This was mainly founded on a good year for arable crop production”, Zsolt Feldmann stressed. The Ministry of Agriculture regards it as a success that in recent years it has succeeded in stabilising the state of animal husbandry.

Hungary’a direct funding budget for 2018 is 1,274 million euros. Similarly to previous years, some 172,000 applications were submitted with relation to the 231 billion forints (EUR 716 million) in basic funding; the finding requested covers 4.9 million hectares. In addition to basic funding, the level of funding for greening is also high, with a budget of 130.7 billion forints (EUR 405 million). The Hungarian State Treasury began the distribution of advance funding on 16 October 2018 and payments are still ongoing; payment of further instalments will begin on 1 December, the Minster of State added. Over 78 billion forints (EUR 242 million) will be paid out to farmers with relation to over 30 funding items by the end of this year from the planned national agricultural funding budget.

Source: http://www.kormany.hu/en/ministry-of-agriculture/news/agriculture-will-be-contributing-to-gdp-growth-again-this-year

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