Queensland’s rural debt has increased by 10.75 per cent in the past two years, which the opposition says is a stark reminder that the state’s producers are doing it tough and need more help.
However, a mayor in one of the regions carrying a large percentage of the state’s debt said the QRIDA 2019 Rural Debt Survey tabled by the government in parliament last Friday didn’t include the value of the asset behind the debt.
Crippling drought and a monsoonal flood were among the contributing factors for Queensland’s $19.1 billion debt burden, which is up from the $17.24b in the 2017 survey.
Of the 16 industries covered in the 2019 survey, the three major rural debt holding industries were beef, grain and grain/grazing, which accounted f…
Read the full article at: https://www.queenslandcountrylife.com.au/story/6874941/rural-debt-increase-not-all-bad-mayor-says/?cs=4699
