УДК 332.1:338.431/432 (477)

Vitaliy BULYUK
Doctor of Economics, Deputy Chairman, Kherson regional council
Bogdan YEGOROV
Doctor of Technical Sciences, Professor, Professor of technology of mixed fodder and biofuels
Odessa National Academy of Food Technologies

Abstract

Introduction. In the article the features of investment support for the development of agrarian enterprises under conditions of economic instability and transformational changes are investigated. It is substantiated that the withdrawal from the crisis situation of agro-industrial production is connected with the implementation of deep structural and investment restructuring. The necessity of creation and realization of long-term investment programs of regional agrarian industrial productions development, aimed ultimately to achieve the macroeconomic equilibrium in accordance with the laws of a market economy, is substantiated.

The purpose of the article is coverage and substantiation of issues related to the peculiarities of investment support for the development of agrarian enterprises under conditions of economic instability and transformational changes.

Results. Capital investments in agrarian industrial production include the costs of: construction and installation work and the purchase of equipment included in the estimate; landing and growing of perennial crops; the purchase of machinery, equipment, inventory, not included in the estimated cost of construction; formation of the main herd of productive and working cattle and other capital expenditures (land allocation and author’s supervision of design organizations, maintenance of administrative personnel of under construction companies, technical supervision, carrying out of culturally-technical works on land not requiring melioration, implementation of anti-erosion measures, etc.).
The most important stages are the strengthening of the production base and organizations for the restoration of fixed assets, the creation of market infrastructure, the focus on the production of the most necessary region of products, the solution of important regional problems in the combination of large enterprises, small and medium businesses. Mortgage, leasing, targeted investment require support.
To ensure the priority development of agrarian enterprises, first of all, the creation and implementation of an efficient economic mechanism, investment support of integrated and targeted structural, technical and technological changes are necessary.
The calculations show that with the strengthening of the material and technical base of production, the transition to the newest technologies, the development of social and industrial infrastructure, improving the living conditions and labor of agricultural producers, the growth rate of output will exceed the growth of capital investments, ie, the share of investments will decrease.

Conclusions. Thus, the withdrawal from the crisis state of agrarian industrial production is associated with the implementation of a profound structural and investment restructuring. At this stage, the investment resources of the agrarian sector are formed mainly from own funds of enterprises (up to 70 %), the overwhelming part of them being amortization deductions. There remains a very narrow segment of long-term lending to agrarian industrial production. So, in front of the state authorities there is a problem creating long-term investment programs for the regional agro-industrial production development, aimed ultimately to achieve macroeconomic equilibrium in accordance with the laws of a market economy. A prerequisite for realizing the benefits of Ukraine is the implementation of complex reforms, which include improving the legislative framework, creating an attractive investment climate and favorable conditions for the inflow of credit resources to the agrarian sector. Investors should be sure that their rights are protected. Then the investment state of the country, and in particular domestic agricultural production, will improve considerably.

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The article was received 15.11.2018