Government subsidizes farmland owners with $100 per hectare under state program

The Georgian government will subsidize farmland owners with a state program offering ₾300 ($97/€90) per hectare, Prime Minister Irakli Garibashvili announced on Monday.

Landowners, co-owners and beneficiaries who own land between 0.25 and 1.25 hectares will receive the subsidy in the form of points added to their agricultural special accounts, allowing them to purchase the goods needed for their work.

Garibashvili called the program “very important help”, noting that about 300,000 farmers would benefit from the project.

With a total budget of ₾35 million ($11.4 million/€10.5 million), the program aims to facilitate timely implementation of agricultural works and positively impact associated costs .

The Prime Minister noted that the government was also supporting farmers with larger land by funding the interest rate on loans taken out from the working capital at 9%, adding that £20m (20.5m of dollars/6 million euros) had been issued in the form of loans since March 22 to support the cultivation of annual crops.

Garibashvili also said that all municipalities in the country would have 24-hour water supply by the end of 2025, noting that the project tackling the long-standing problem would be funded with around ₾350 million ($114 million). dollars / 105.8 million euros).

He also pointed out that Georgia’s foreign trade growth rate remained high in March, also noting a “significant increase” in tourism during the reporting period.

Georgia’s foreign trade turnover amounted to $3.8 billion in January-March 2022, showing a 38% year-on-year increase.

International traveler revenues were $394 million in January-March 2022, an increase of approximately $340 million from the previous year and a recovery of 68.1% from 2019.

Amalia H. Mercado