Andrii Bilochenko’s research while affiliated with National Science Centre "Institute of Agrarian Economics" and other places

Agribusiness is one of the critical sectors of Ukraine’s economy, but the war has created a challenging environment for developing this industry. The war has resulted in the destruction and destruction of many agricultural enterprises, decreased production and sales, and increased risks for investors. On the other hand, expanding the financial space for agribusiness is critical to ensuring the stable development of the industry and increasing its competitiveness. The article aims to assess the current state and identify possible areas for expanding the financial space in the agribusiness sector. Research hypothesis: the conditions of war in Ukraine create difficulties for the development of agribusiness, but there are opportunities to expand the financial space of agribusiness through the use of the latest technologies, increase production efficiency and open new markets. The article studies the essence of financial resources of agricultural enterprises. The factors that influence the financial provision of farming enterprises are determined. The features of the formation of financial resources for agricultural enterprises of Ukraine are considered. The State programmes of financial support of agricultural enterprises are analysed. The main directions for further developing agribusiness’s economic space in Ukraine are proposed. The practical implementation of the research results will ensure the following positive changes in the economy of the agro-industrial complex: improving the efficiency of business entities; creating a favourable investment climate, increasing investment attractiveness and investment growth; intensifying structural changes in the agro-industrial complex; transforming the State support for agriculture in line with international trends and requirements; increasing the profitability of production and sales of agricultural products; improving the external.

The research aims to study the organizational aspects of financial support for the agro-industry of developed countries and to determine the possibilities of their implementation in Ukraine. The article analyzes the experience of state and credit financing of the agro-industry of developed countries (using the example of the United States of America, countries of the European Union, Canada and Japan); their positive features and possibilities of implementation of this experience for Ukraine are highlighted. Studying the experience of financial support of the agro-industry of developed countries, we can conclude that they have developed specific systems for servicing agricultural production. This is caused, first of all, by the peculiarities of this sphere of economy, namely the need to eliminate the phenomenon of economic crises that arise for various reasons: cyclical economic development or socio-economic instability. State support of the foreign agro-industry in multiple countries has positive consequences. However, it is impossible to apply a separate instrument of state support in Ukraine based on foreign experience for various reasons. Firstly, in the EU and other developed countries, the agricultural sector is characterized by the overproduction of farm products. On the other hand, in Ukraine, it is necessary to increase the production of domestic farm products. Secondly, before deciding to increase state support for the agro-industry, it is essential to take into account the level of the budget deficit, for which Ukraine is unlikely to be able to take specific measures compared to other countries. In addition, it is worth taking into account the significant losses of the agro-industrial complex as a result of military operations on the territory of Ukraine and the redistribution of the state budget to minimize these consequences. Without available budget funds, it is impossible to ensure the proper level of development of the agricultural sector of the Ukrainian economy.

In the article we investigate the problem of determining the main factors of increasing the profitability of agricultural enterprises in order to effectively use the resource potential of agricultural producers. In this study, we used a set of modern scientific methods, among which we highlight such methods as factor analysis, structural analysis, graphical and tabular methods, grouping methods, regression statistical analysis, etc. In particular, grouping methods are used in the study for the distribution of the researched enterprise’s totality according to the special features of their functioning. Also in the process of our study regression, a statistical analysis method was used to build a regression model to assess the relationship of profit and revenue from agricultural enterprises with such factors as a capital ratio, the average annual amount of enterprise assets, the labour costs, and the number of material costs per unit of land area. Besides, in order to study the level of profitability of agricultural enterprises in terms of their organizational and legal forms of management, the scope of financial and economic activities as well as the unit of the occupied area, livestock and taking into account the products produced, we used the structural analysis method. According to the results of the study, we found that the profitability of agricultural enterprises in the Lviv region of Ukraine depends on the characteristics of their versatility. Thus, according to the results of the study we proved, that the constructed multifactorial correlation and regression models allow us to make the conclusion about availability of the significant impact on the profitability of the security of the agricultural enterprises in Lviv region of Ukraine and the level of their intensification of the production activities. Based on the study, it can be argued that the profit of agricultural enterprises is a key indicator for the implementation of the process of agricultural production, and is one of the main criteria for the effectiveness of the agricultural sector. It is determined that the activity of agricultural enterprises is significantly influenced by external factors that are not directly related to the production activities of enterprises.

The purpose of the article is to identify the main factors that constrain lending to enterprises of the agro-industrial complex of Ukraine, to suggest ways to improve their lending system. A systematic approach was chosen as the methodological basis of the study, which provides for a comprehensive study of the bank lending system of the agro-industrial complex. Historical and structural-functional approaches were also used in its analysis. Methods of comparative analysis were used to consider some problems of bank lending to the agro-industrial complex. Of the general scientific methods in this study, methods of analysis and synthesis, induction and deduction were used. The article examines the dynamics and structure of loans to the agro-industrial complex in Ukraine for 2015—2020; the dynamics of interest rates on loans to the agro-industrial complex and the dynamics of agricultural production by UAH 1. credit provision of the agro-industrial complex in Ukraine for 2015—2020. During the analyzed period, these indicators increase or decrease proportionally, as evidenced by the importance of the efficiency of credit support of the agar sector. In 2020, the efficiency of credit provision of the agricultural sector amounted to UAH 11.64, which is UAH 0.4 more than in 2015. The analysis revealed that the agro-industrial complex today has a high need for financial resources. The characteristic of the main problems of the mechanism of crediting of an agro-industrial complex is given. The need to ensure the availability of bank loans has been identified. Stimulating investment lending to agricultural enterprises will have a positive impact on the development of the industry, as well as improve the existing economic situation of rural residents. High demand for credit resources from agricultural producers, the current state and dynamics of lending to the agro-industrial complex in Ukraine allow us to conclude that it is necessary to improve the mechanism of bank loans, develop effective credit products for the agro-industrial complex and strengthen state support for agricultural lending. Keywords: credit, banks, enterprises of the agro-industrial complex, credit programs for the agro-industrial complex. JEL Classification G21, Q14 Formulas: 0; fig.: 3; tabl.: 1; bibl.: 15.

The situation on the market of bank crediting of agricultural enterprises is analysed. Have been identified the key reasons for the low efficiency of the current mechanism of lending by banks to the agro-industrial sector. The key shortcomings in the system of financing the enterprises of the agro-industrial complex are revealed. The investment attractiveness in Ukraine is considered and specified in the dynamics by regions. The volumes of financing the activity of agro-industrial enterprises in Ukraine by sources of income are analysed. It is proved that effective financing opens wide opportunities for the development of enterprises in the agricultural sector. In the study general and specific economic methods, as well as a basic research approach, which allowed us to determine the economic nature of the financial sector and the scope of financing of agricultural enterprises are used. The financial instruments of the agricultural enterprise use of which will promote the achievement of the European standards are offered. Scientifically substantiated recommendations on the directions of application in Ukraine of the international experience of stimulation of the financial activity of subjects of the agro-industrial complex are entered. In developed countries, a rich arsenal of support tools is used to support financial activities in the agro-industrial complex. A list of the most common tools for such support used in developed countries is given. It is noted that the solution of problems of financial support for the development of the agro-industrial complex should be carried out on the basis of studying, generalizing, and taking into account the best international experience. The world experience of financing the agricultural sector of the economy and the peculiarities of the distribution of state subventions for the development of agricultural production are studied. The scientific novelty of the obtained results is represented by a set of theoretical and practical aspects of the study, namely proposals for the current state of lending to agriculture and recommendations for the use of new financial instruments in the context of the implementation of international experience. Keywords: crediting, financial sector, agro-industrial complex, international experience. JEL Classification Q14 Formulas: 0; fig.: 5; tabl.: 2; bibl.: 16.