INVESTMENT ACTIVITIES IN CRISIS YEARS AND INTERCRISIS PERIODS IN THE AGRICULTURE COMPLEX OF UKRAINE

Abstract

Subject. A set of theoretical, methodological and applied aspects of investment activities in the agri-food complex of Ukraine in conditions of constant internal variability and increasing external turbulence. Purpose. Summarize the results of investment activities of enterprises of primary production and the food industry in the pre-war period and determine directions for its activation in the following years. Methods. The basis of the conducted research was general scientific and special methods, in particular: systematic retrospective analysis – to establish the specifics of the investment activity of agricultural sector enterprises in 2009–2022; formalization, analysis and synthesis – to identify and evaluate the dynamics of investment activity in inter-crisis periods against the background of growth in investment volumes; comparative analysis – during the study of investment activities of economic entities of different sections, groups and classes of enterprises; tabular and monographic. Results. The alternation of agrarian crises with inter-crisis periods and their impact on investment processes in primary production and the food industry are summarized and systematized. It was established that investment in the primary sector did not depend on crisis phenomena in agricultural production until the beginning of the russian aggression, and moreover, investment volumes were fully covered by the profits received, and depreciation deductions created a certain margin of safety. It has been analyzed and determined that the investment processes of the food industry, on the contrary, in addition to the peaks of agrarian crises, are also significantly influenced by other factors that largely depend on external circumstances. It was revealed that the fuller investment filling of agriculture during the studied period, in comparison with the food industry, led to an accelerated increase in fixed assets and to varying degrees affected the dynamics of wear and tear of fixed assets: 40.8% remained at the initial level in the agricultural economy, and 40.8% in the food processing industry decreased to 42.8%. Taking into account the allowed backlog, the need for investments for agriculture was determined for various options for providing them (reproduction level, technical modernization, innovative modernization) for the period until 2025. The problems of the implementation of specific measures and perspective projects in the direction of "New Agrarian Policy" were systematized and disclosed. it was established that most of them were put on hold until the end of the war. Scope of results. The research results are based on the justification of the theoretical foundations and the generalization of practical approaches to investment activity in the agro-food complex, taking into account the role and impact of agrarian crises on the dynamics of investment activity. The identified features will be taken into account when conducting active investment activities in the post-war period, taking into account the need for the priority revival of agrarian resource potential in de-occupied regions and territorial communities in accordance with the "New Agrarian Policy" direction.