PROVIDING FINANCIAL RESOURCES TO AGRICULTURAL ENTERPRISES

Abstract

The subject of the research is the financial and credit system of providing agricultural enterprises with financial resources. The purpose of the article is to generalize the content and develop the definition of the concept of "financial resources of agricultural enterprises" taking into account the peculiarities and problems of their formation in modern conditions; assess the state and prospects of providing agricultural enterprises with financial resources. Research methodology. To solve this purpose, the following methods were used: theoretical generalization, synthesis, induction and deduction - to substantiate the essence of the definition of "financial resources of agricultural enterprises"; comparisons, dynamic - to analyze trends in the development of agricultural enterprises and assess their provision with financial resources; economic and statistical analysis for forecasting the sources of financial resources; financial analysis - to determine the optimal interest rate on loans to agricultural enterprises. Research results. It was revealed that the main source of the formation of financial resources of most agricultural enterprises during the past decade were their own funds. The high cost of attracted financial resources in economic activities, as well as the low level of investment activity of agricultural producers, negatively influenced the formation of net profit, led to constant fluctuations in the profitability of operating activities. Investments were made mainly in the most profitable areas of agricultural activity, while the areas that required radical modernization were left without additional resources. The share of agriculture in foreign capital of the economy in 2018 was too small - 0.7%. The share of short-term loans was also insignificant (5.6% in 2018). Interest rates on loans for agricultural enterprises during the period under study were higher than the average for the Ukrainian economy. Elements of scientific novelty. In the structure of financial balances of agricultural holdings, a tendency towards a decrease in the share of their own funds and, accordingly, an increase in borrowed funds, in some formations ranged from 46.8 to 91.6%, was revealed, which indicates a slight decrease in financial stability and an increase in the dependence of enterprises on investors and creditors. The tools of state financial policy in the sphere of providing enterprises with financial resources from them have been substantiated: assistance in the formation of various sources in the system of credit services, in which cooperative credit structures should play an important role; introduction of programs to expand the capacity of the domestic market through its own production; increasing the production of agricultural products, which is necessary to ensure rational consumption rates by the population; organization of product processing directly on farms with the sale not of raw materials, but of food products made from it, as well as other products from local resources as an important source of additional financial receipts; curbing inflation, etc. Scope of the results. Designed for specialists in the field of agricultural economics and finance, scientific workers, teachers, graduate students and students of higher educational institutions. The results of the study can be used by specialists to assess the level of provision of financial resources to enterprises, government officials when choosing directions for food policy, and researchers to expand the scope of research.