Iran to give $1.5b direct subsidies to agro industry

Direct subsidies have increased by 10 percent compared to the past year, he added.

He also explained that in this year’s budget, some Rls.8.68 trillion (around 940 million dollars) was earmarked for the purchase of the fertilizers and other elements contributing to the increase in the agricultural products.

The official added that some Rls.7 trillion (7.5 billion dollars) of the figure will be spent on the fertilizers.

He further commented on the 100 percent growth in the deposits of the Agricultural Products Insurance Fund and said that the deposits have increased from Rls.1 trillion (1.08 billion dollars) in the past year to Rls.2 trillion (2.1 billion dollars) this year.  

RA/KK

END

MNA