OREANDA-NEWS. Belarus is set to curtail its agribusiness funding programme by 3.8% in 2013 down to Br32.9 trillion (USD 3.79 bn), First Deputy Agriculture and Food Minister of Belarus Leonid Marinich said during an online conference.

The lion’s share of funds will go to reimburse for credit interest payments to state-owned farms, Marinich informed.

As a member of the Single Economic Space, Belarus will have to reduce government subsidies to agricultural producers from 16% in 2011 to 10% in 2016, the vice minister informed.

Belarus’ government subsidies to agricultural producers totalled Br215.6 trillion (USD 24.8 bn) in 2012, which stands at 11-12. In 2013 subsidies will not exceed 13-14%, Marinich informed.

Belarus plans to reduce the state of government subsidies by cutting direct budget transfers, and also by means of intensive factors of increasing farm output.

Belarus’ farm exports grew 21.2% in 2012 to USD 5 billion. Meat export proceeds grew 37.6% to USD 1.4 billion, dairy export proceeds – up 10% to USD 1.8 billion.