By Joshua Manning • 01 September 2022 • 14:33
Spain increases budget earmarked for agricultural insurance by €60 million
Spain’s Ministry of Agriculture, Fisheries and Food has increased agricultural insurance by €60 million to raise the state subsidy on the total cost of the premium by 10 percentage points to 40 per cent.
Agricultural insurance is a key agricultural policy tool, especially in the current context of climate change, as it protects producers’ incomes.
The first insurance lines to benefit from this higher subsidy will be nuts, extensive arable crops, persimmon, wine grapes and fruit, among others.
The Minister of Agriculture, Fisheries and Food, Luis Planas, highlighted the key role of the Spanish agricultural insurance system as another tool that contributes to maintaining agricultural income and the viability of farms.
The budget increase for agricultural insurance is included in Royal Decree-Law 11/2022, approved by the extraordinary Council of Ministers on 25 June, which extends and approves new measures to support the agricultural sector in the current context of rising costs on farms.
The news follows reports that Spain will reportedly lower the VAT on gas from the current 21 per cent to 5 per cent so that citizens will see a reduction in the amount they have to pay this coming winter.
Thank you for taking the time to read this article, do remember to come back and check The Euro Weekly News website for all your up-to-date local and international news stories and remember, you can also follow us on Facebook and Instagram.
Share this story
Subscribe to our Euro Weekly News alerts to get the latest stories into your inbox!
By signing up, you will create a Euro Weekly News account if you don’t already have one. Review our
Originally from the UK, Joshua is based on the Costa Blanca and is a web reporter for the Euro Weekly News covering international and Spanish national news. Got a news story you want to share? Then get in touch at [email protected]
Your email address will not be published. Required fields are marked *
Download our media pack in either English or Spanish.