A few days after the release of the 2017/2018 Harvest Plan, there are high expectations about interest rates for this year. In a ceremony held at the Brazilian Association of Machinery and Equipment Industry (Abimaq), the Secretary of Agricultural Policy, Neri Geller, stated that the possibility of a variable interest rate has been ruled out.
Representative Luiz Carlos Heinze (PP-RS), member of the Parliamentary Agricultural Front (FPA), states that the Chamber's Agriculture Committee and sector entities support the Ministry of Agriculture in relation to the tax policy. According to him, the Selic fell to 11% and it is not fair that rural producers do not have a drop in the interest rate proportional to the drop in the Selic.
At an event in Cuiabá, the Minister of Agriculture, Blairo Maggi, said that the 2017/2018 Harvest Plan should have an interest rate 1% lower than that offered in the previous cycle. However, according to Maggi, the forecast is for a reduction in the repayment period for both funding and investment financing, which should decrease due to the federal government's spending limit ceiling. According to the minister, the new Plan should pay special attention to credit lines intended for storage.
Source: Agrolink
