Interest expenses for 2023 projected to rise 19 percent to almost $34 billion

Bar chart showing interest expenses, in 2023 dollars, and annual percentage change from 2000 through forecasted amounts for 2022 and 2023.

USDA’s Economic Research Service projects that U.S. farm debt is expected to rise to a record level in 2023, with interest rates as the fastest-growing production cost. However, when measured using solvency and liquidity ratios, the potential impact of higher interest expenses is minimal.

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