Dagestan intends to increase spending on agricultural machinery by 19% in 2024

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In 2024 Dagestan plans to increase spending on the purchase of agricultural machinery by 18.8%, the regional Ministry of Agriculture and Food reports. In 2023, 673 million rubles were spent for these purposes. In 2024 the amount of expenses is planned to reach 800 million rubles.

"For 10 months of 2023, the regional agrarians, despite the rising cost of equipment, did not reduce the volume of its purchase. In total 331 units of equipment were purchased by agricultural producers during the period past" – the Ministry official says.

The region's authorities intend to achieve an increase in 2024 by activating leasing mechanisms and developing machine and tractor stations in municipalities. The banks approved soft loans worth more than 3.6 billion rubles for agricultural producers in Dagestan in January-October 2023. The volume of loans has increased 3 times compared to 2022.

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