Source Pravda.Ru

Russia spends as much on agricultural exports as USA spends on developing agricultural sector

Russia spends in one year on the order of USD 30 billion on the export of its agricultural production. That amount is equal to the amount the United States spends each year on the development of its own agricultural sector. So said Andrei Holenko, a member of the central committee of the Russian Agrarian Party, during a roundtable discussion Thursday organized by Rosbalt, titled 'Competitiveness as a Russian National Idea.' In his words, Russia exports 40 percent of its total agricultural production. At the same time, the Russian government spends USD 1 billion in support of its agricultural producers. In that regard, Holenko stressed that nearly 10 percent of the world's agricultural capacity is located on Russian territory. By way of comparison, Holenko pointed out that the European Union spends an analogous amount. 'The countries of the European Union spend around USD 40-50 billion each year on the development of their agricultural sector,' said Holenko.