President Sovemen vows no more investments into farm industry

ADYGEIYA, September 27, Caucasus Times, – There would be neither government, nor his personal investments into the farm industry of Adygeya, said President of Adygeya speaking at his meeting with the Cabinet September 27.
“The agriculture is a profitable business, and I’d rather help the doctors and teachers,” Mr. Sovemen was quoted as saying “and in any case the republic will not left without bread.” The president said he would allocate $2.068 million of his personal money annually to supply the republic with bread instead of investing into local farm industry.

Earlier Mr. Sovemen has reportedly invested at least $10 million to boost local farm production and encouraged farmers to keep the grain they harvested at the local elevators aiding them to sell the grain at reasonable prices to help the farm industry stay solvent and pay off the credits. Eventually, the president’s campaign turned a total failure as only 20% of all 300.000 tons of grain had been stored at the elevators. This year the local farmers gathered the biggest harvest of wheat they ever did but preferred to have it sold right away. As a result, the full amount of credits will hardly be paid off this year and the republic may face most likely financial problems.

Resignations of Adygeya’s prime-minister Khazret Huadeh and minister of agriculture Shrakhmet Shalyakho followed the president’s plan failure.

Dinara Yemizh, Caucasus Times, Maykop

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