Farm Finance

Financial Condition of American Agriculture as of December 31, 1987 Gao ID: RCED-89-33BR October 18, 1988

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.



The Justia Government Accountability Office site republishes public reports retrieved from the U.S. GAO These reports should not be considered official, and do not necessarily reflect the views of Justia.