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Economy, finances, management: Topical issues of science and practical activity

space SCIENTIFIC JOURNALS OF VINNITSA NATIONAL AGRARIAN UNIVERSITY

Issue №: 9 (49)

Published: 2019.09.25
DOI: 10.37128/2411-4413-2019-9


Description:
The magazine deals with the problems of the agricultural sector of the economy in the context of integration and processes of globalization. Attention is paid to the issues of development of digital economy, rural territories, technologies of enterprise management and organization of accounting, problems of legal support of economic processes, market tendencies of development of various branches of economy. Particular attention is paid to green tourism as a promising segment of the national economy.

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TOOLS OF THE FINANCIAL CREDIT MECHANISM OF FINANCING AGRICULTURAL PRODUCTION OF CHERKASY REGION

DOI: 10.37128/2411-4413-2019-9-10
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FURMAN Irina  –  Candidate of Economic Sciences, Associate Professor of the Administrative Management and Alternative Energy Sources Department, Vinnytsia National Agrarian University (21008, 3, Sonyachna Str., Vinnytsia, e-mail: irina_furman@ukr.net).

MAXIMENKO Natalia  –  Candidate of Law, Associate Professor, Department of Management, Economics, Law and Tourism, Flight Academy of National Aviation University (25005, Kropyvnytskyi, 1 Dobrovolskogo Str., e-mail: natasha_bs@ukr.net)

HMYRYA Victoria – Candidate of Sciences (Economics), Associate Professor of the Department of Finance and Banking, Cherkasy Educational and Scientific Institute of the DVNZ of the University of Banking (Chornovola str., 18028, Cherkasy, e-mail: viktoryagmirya@ukr.net)

Annotation

The article describes the problems associated with the financial support of agricultural production in Ukraine, on the basis of which ways to improve the financial and credit support of agricultural production in Ukraine are highlighted. The economic and legal mechanism for regulating agrarian entrepreneurship in Ukraine is considered with the determination of the directions of its development based on the optimization of production and social infrastructure, increasing the competitiveness of agricultural production, increasing its volume, improving the quality and safety of agricultural products, environmental protection and reproduction of natural resources, increasing the level of rural employment population.

Over the last four years the Cherkasy region has attracted preferential loans to agriculture in the amount of more than 145.2 million UAH. On average, about 4.9 million UAH was attracted to one production, while other industries received less than 1.5 million UAH or did not receive any at all.

Preferential credits were used to purchase fuel and lubricants (74%), purchase of plant protection (45%), purchase of seeds (20%), and other goals related to agriculture (16%).

Commercial banks of Cherkasy region in the period 2014-2018 were granted loans worth 87.9 million UAH. The interest rate for the granted loan was 21%, the repayment rate was 65.2% for loans to banks, and the interest rate compensation for commercial banks from the State Budget for the period 2014 - 2018 was 6.5%.

As of the end of September 2018, bank loans attracted 1,928 enterprises in the Ukrainian industry, which is 276 less than in 2018. The total volume of loans in 2014 amounted to UAH 8.1 billion. In total, bank loans to agricultural enterprises amount to over UAH 103.9 billion.

Considering the above mentioned problems related to the financial support of the agricultural production of Ukraine, we can distinguish the following ways to improve the financial and credit support of agricultural production:

1)       the creation of favorable economic conditions for the effective functioning of domestic agricultural production involves the use of a rigid system of pricing for agricultural products, taking into account the interests of producers and consumers, preferential taxation, subsidizing 100% interest rate on credit and bank control over the pricing of loans in the market;

2)       equalization of economic conditions of Ukrainian agrarian producers with respect to foreign partners. This direction of support implies direct state support of agricultural production by price mechanisms in those positions, in which the domestic producer is far behind the foreign agricultural producers;

3)       the economic justification for increasing the supply of equipment for leasing helps to increase the efficiency of agricultural production and improve the use of agricultural machinery;

4)       stimulation of instruments of financial and credit support of agricultural production by creating zones of economic development that will provide favorable conditions for growth of agricultural production. Preferential taxation programs should be developed for financial institutions providing loans to residents of these economic zones. Yes, banks and insurance companies that conduct lending to agricultural producers should be partially exempt from taxation;

5)       credit institutions should develop special credit products that would meet and meet the needs of agricultural producers for additional financial resources;

6)       the innovative mechanism and system of crediting of agricultural production should correspond to the peculiarities of the cycle of not only individual producers, but also the whole system of agricultural production. Agrarian production should be credited as a coherent system, since the repayment of the loan occurs after the sale of products to the end consumer;

7)       it is necessary to introduce a system of interrelated economic and credit planning, state guarantees for the sale of quality agricultural products at stable state prices. On this basis, banks can be issued state guarantees for loans, which must meet, in the context of anti-crisis measures, the main form of ensuring the repayment of the loan, even in the absence or absence of producers of their working capital.

Keywords: agroindustrial complex, crediting, agrarian production, financial and credit support of agrarian production, agrarian production

List of references
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About journal

Topics of the journal:

051 Economics

071 Accounting and taxation

072 Finance, banking and insurance

073 Management

075 Marketing

076 Business, trade and exchange activities

241 Hotel, restaurant and catering 

281 Public administration

 

Key information:
ISSN (print): 2411-4413
DOI: 10.37128

The journal “Economy, finances, management: Topical issues of science and practice” is included in the "List of Scientific Professional Editions of Ukraine". 

The scientific edition is assigned the Category "Б" in the field of economics in specialties 051, 071, 072, 073, 075, 076, 241, 281

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The editorial board of the journal is guided by the principles of scientific, objectivity, professionalism, informational support of the most significant innovative researches, observance of standards of publishing ethics.

The purpose of the journal "Economics, finances, management: Topical issues of science and practical activity» is the coverage of leading scientific ideas in the economic, financial and management activities of the sectors of the national economy and the involvement of representatives of the domestic and foreign scientific professional community.

 

Objectives of the journal:

  • publication of research findings on innovation in the economy, financial and management spheres, innovation of production processes;
  • expanding partnerships with international scientific publishing organizations;
  • enhancing the culture of reviewing and annotating published material;
  • adherence to editorial ethics.

 

Article publishing is a paid service. Cost for printing in professional publications in accordance with the Decree of the Cabinet of Ministers of Ukraine of August 27, 2010 No. 796 "On approval of the list of paid services that can be provided by state educational institutions, other institutions of the educational system belonging to state and communal ownership" and the order Rector of the Higher Education University Mazura VA dated March 14, 2018 No. 93 “On setting the cost of printing in professional editions of the University”.

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History of journal:

It was founded in 1997 under the name "Bulletin of the Vinnytsia State Agricultural Institute". In 2010-2014 he was published under the title “Collection of scientific works of Vinnitsa National Agrarian University”.

From 2015 ”Economy, finances, management: Topical issues of science and practical activity” (Certificate of State Registration of Mass Media No. 21154-10954 of PR as of December 31, 2014)

According to the decision of National Council of Television and Radio Broadcasting of Ukraine from 25.04.2024 No. 1337 the scientific journal «Economy, finances, management: topical issues of science and practical activity» has the ID of the Media R30-05171.