FINANCIAL AND ECONOMIC STATE OF AGRICULTURE IN THE CONDITIONS OF EXPORT-ORIENTED STRATEGY OF AGRO-INDUSTRIAL COMPLEX

The stable financial and economic state of agriculture largely determines the success of the implementation of the export-oriented strategy for the development of the agro-industrial complex of Russia chosen by the state. The authors analyzed and studied the main factors affecting the financial and economic condition of key agriculture sectors of the Russian Federation. The study identified the problems hindering the significant ramp-up of the crop and animal products output, the main of which are: the insufficient technical potential of agriculture, low level of investment activity, the imperfect mechanism for allocating preferential investment and short-term loans to agricultural producers, the disparity in prices for agricultural products and manufactured goods, the insufficient state support for the industry, the shortage of personnel potential in agriculture, etc. Despite the existing problems, the authors highlight the tendency of the growth in crop and animal products output and strengthening of the financial state of agricultural enterprises resulting from the implementation of the state policy of import substitution and the introduction of food embargo on basic foods. At the same time, the volatility of prices for crop and animal products negatively affects the financial results of agricultural producers, leads to the deficiency of own funds for technical reequipment of production, the introduction of technological innovations, the faster increase in production volumes and serves as an obstacle when implementing the targeted guidelines of the state concept of export-oriented development of the industry. The study noted the growth of debt under credits and loans and overdue accounts payable per one agriculture organization resulted from the pre-bankruptcy of several large-scale agricultural holdings. To strengthen the financial and economic state of agriculture, the authors recommended improving the mechanisms of state stimulation to attract financial resources of private investors, increasing the volume of state support for agricultural producers, providing preferential investment and short-term loans to agriculture, and expanding state support programs for small and medium-sized forms of agriculture in the countryside.

financial and economic state, investments, financial results, financial sustainability, paying capacity, agriculture, crop production, animal husbandry