Algeria ministry increases subsidy for agricultural machines

Algerian agriculture ministry will limit subsidy intended to agricultural sector equipment to the national products, in an attempt to boost public companies amid fierce competitions with foreign operators.

• “The subsidy will be estimated at 25 to 40 percent depending on the type of the product,” an official at the ministry told Echorouk.
• Speaking on conditions of anonymity, he said various agricultural machines will be subsidised.
• Farmers can get direct subsidy up to 40 percent when they buy harvesting machine along with loans granted by the Bank of Agriculture and Rural Development.
• The ministry will subsidise foreign operators’ projects if they have at least one single assembly factory meant to create new jobs for Algerians.
• This decision comes to help national companies of mechanical machines based in Constantine province (east of Algiers) which suffers from recession along with the National Company of Agricultural Equipments located in western Algeria.