The supplementary budget of the Ministry of Agriculture, Food and Rural Affairs has been confirmed at 212.9 billion won, an increase of 9.79 billion won from the government's proposal.
According to the Ministry of Agriculture, Food and Rural Affairs on the 2nd, the supplementary budget proposal was increased from 115 billion won to 212.9 billion won during the National Assembly review process. The projects with increased budgets include subsidies for the prices of mineral fertilizers and support for the purchase of agricultural machinery at rental offices.
The budget for supporting the subsidy for the purchase of mineral fertilizers is set at 25.5 billion won. This is to support the price increases for 850,000 tons of mineral fertilizers needed this year for farmers struggling with increased costs due to the rising exchange rate. In 2023, the cost of purchasing mineral fertilizers accounted for 6.8% of farming management costs.
The budget for supporting the purchase of agricultural machinery at rental offices has been increased by 2.4 billion won. This is a measure to help farmers affected by large-scale wildfires in North Gyeongsang Province resume their farming activities.
The budget for the discount support project for agricultural and livestock products to reduce consumer burden has increased by 120 billion won. Previously, the government had increased it by 50 billion won, and an additional 70 billion won was added during the National Assembly review. As a result, this year's project budget increased from 108 billion won to 228 billion won.
An additional 65 billion won has also been allocated for the public delivery app discount support project aimed at enhancing sales for small businesses and alleviating delivery fee burdens.
In addition to the supplementary budget, the Ministry of Agriculture, Food and Rural Affairs plans to utilize available resources to restore damaged agricultural facilities and dwellings and provide additional policy funds necessary for management stability. Furthermore, the interest rate for loans to affected farmers will be reduced by 0.5 percentage points, while repayments for 54 agricultural policy funds can be deferred for up to two years, with interests being waived.
Moreover, the budget necessary for constructing 20 production facilities for apple saplings will be supported to help farmers affected by wildfires in North Gyeongsang Province quickly reestablish their apple orchards.