Bulgaria invests big in beef industry

Bulgarian cattle farmers will receive about EUR70 million (US$100.5 million) in subsidies from the government this year in order to increase domestic beef production.

Local farmers had warned the government that a lack of support will cause domestic cattle herd to fall to 50,000 head.

All payments will be fully made to farmers in January and February, according to the Agriculture Minister Miroslav Naydenov. He said the funds are far more than the US$66.1 million initially demanded by the farmers.