Financial support of innovative development of enterprises of the agricultural sector of the economy

Abstract

The article is devoted to the assessment of the state of the agricultural sector of the economy and the state's measures regarding financial support of enterprises in the agricultural sector, which is the basis of food security at the national and global levels. The challenges and problems of the agricultural sector, which are suggested by modern trends in agro-industrial production, are analyzed. Such general scientific research methods as analysis, synthesis, comparison and generalization were used. The volume of agricultural production and the efficiency of agricultural activities before the full-scale invasion of Russia and during martial law are assessed. It has been established that the agricultural sector in general has been demonstrating positive dynamics in the volume of agricultural production in recent years, remains effective in comparison with other industries, therefore, consolidating modern trends and maintaining competitive positions in the world market requires effective financial support in extremely difficult times. The current system of financial support for the agricultural sector is not comprehensive and does not provide proper access to sources of financing for all enterprises without exception. An assessment of the activities of the Ukrainian State Fund for Support of Farms was carried out and the volume of its support was determined.

Conclusions were drawn regarding the activity of farms in Vinnytsia region in obtaining a budget subsidy per 1 ha of arable land (3100 UAH per ha) and a special budget subsidy for the maintenance of cattle 5000 (from 3 to 100 heads) and 7000 per 1 head, respectively.

Promising innovative approaches to ensuring the development of enterprises in the agricultural sector of the economy are the expansion of organic farming, the production of niche crops and state support for commodity producers in this direction. Despite numerous skeptical and pessimistic forecasts, the development of farms in Ukraine continues. Most of them have been hardened in wartime conditions, have proven their higher stability, flexibility and efficiency compared to large enterprises.

It should be noted that measures aimed at supporting the agricultural sector should take into account the needs of development and revival of the economic potential of rural areas, ensuring proper living conditions for the rural population, which confirms the importance of supporting farms as the basis of entrepreneurship in the countryside.