President Bernando Arévalo said that these resources are intended to mitigate the cost of living by promoting agricultural production that reaches the population at reduced prices and favors the family economy.
Guatemalan President Bernardo Arévalo has announced that the government will allocate a total of 900 million quetzales (approximately US$113 million) in support for farmers and productivity in the countryside, as a measure to encourage a reduction in the cost of food for the population.
He highlighted at a press conference at the National Palace of Culture that 500 million quetzales (US$ 63 million) will be invested in preferential loans for farmers and 400 million quetzales (US$ 50.5 million) in financing inputs such as fertilizers and tools for agricultural work.
The investment of these resources seeks to mitigate the cost of living by promoting agricultural production that, as part of the basic basket, reaches the population at reduced prices and favors the family economy.
President Arévalo stressed that the 900 million quetzales, which will be invested in two programs of the Ministry of Agriculture, Livestock and Food, must be used in a transparent and efficient manner for the benefit of the population.
"I have instructed that everything be done under mechanisms of transparency, ensuring that the resources reach those who need them. The aim is to deepen the supervision of the proper use of the funds," he said.
These investments are intended to increase food availability and reduce costs. To this end, MAGA will implement the programs called Productive Bonus (500 million quetzales) and Farmer's Bonus (400 million quetzales).
These measures will reduce the cost of production for farmers and ensure that families have food on their tables at a lower price, he reiterated.
Arévalo also stressed that with the budget increase approved by Congress, new measures will be implemented to reduce the cost of living for Guatemalans, and this one, in particular, will affect the cost of the basic basket of goods.
In coordination with the National Mortgage Credit Bank, the rural credit (for a total of 500 million quetzales) will be extended to farm workers who will receive the funds at rates much lower than those offered on the market.
For its part, with the program financed with 400 million quetzales, the direct purchase of fertilizer, seeds and farming tools will be made to be distributed as soon as possible to the entire agricultural sector and promote the productivity of foods included in the basic basket.
