Financial Condition of American Agriculture as of December 31, 1987
RCED-89-33BR: Published: Oct 18, 1988. Publicly Released: Oct 18, 1988.
- Full Report:
Pursuant to a congressional request, GAO provided information on the financial condition of American agriculture as of December 31, 1987.
GAO found improvements in the farm sector, including: (1) increases in agricultural products' values, volumes, and exports; (2) increases in the value of total farm assets and gross farm income, as well as more favorable income and debt levels; and (3) less total outstanding farm debt and fewer nonperforming and delinquent farm loans. GAO also found that: (1) federal outlays to support the farm sector continued at a very high level in 1987; and (2) the severe 1988 drought had a significant effect on certain agricultural segments and could prolong financial stress for many farmers.