Financial resource balance of the agricultural sector: case of Ukraine

Main Article Content

Oksana Radchenko
Inna Tsvihun
Iryna Yasinetska
Liubov Budniak

Abstract

The study of financial balance is carried out in order to determine the supply and demand of financial resources for the agricultural sector and is to take into account the factors shaping the economic relations of the personified forms of capital movement. The balance of demand and supply of financial resources institutionally combines the resources of agricultural producers, credit institutions, financial institutions and the state and functionally it involves a set of the functions performed by financial regulation to achieve the goals of agricultural production. Since the concept of balance lies in the plane of financial and credit infrastructure, it is a system of normatively defined institutional and functional elements that form, regulate, mediate and develop financial relations and ensure the functioning of the agricultural sector by creating the resource potential of economic entities to carry out production on a permanent or extended basis. The methodological basis for the formation of the financial balance of the agricultural sector is enriched by new phenomena of domestic and foreign practice. Improving the methods of its formation and functioning is the basis for achieving sustainable long-term development of the agricultural sector and providing it with sufficient financial resources. On this way, it is necessary to take into account both domestic and international experience. If the volume of potential financial resources of the agricultural sector in 2017 amounted to about 1024 billion UAH (37 billion US dollars), then for the period up to 2020 it is predicted that it can grow annually by no less than 215 billion UAH (15-20%) in the next 3-5 years and by the end of 2020 against the level of 2015 will increase by 2.5 times. Sustainable agrarian development requires strategic planning of financial resources for a variety of their sources and state regulation of this process.

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Article Details

Section
Integration System of Education, Science and Production
Author Biographies

Inna Tsvihun, State Agrarian and Engineering University in Podilya

Dr.Sc. in Economics, 

Head of Department

Accounting, Taxation, and E-business technologies Department

Iryna Yasinetska, State Agrarian and Engineering University in Podilya

Dr. Sc. in Economics, Professor

Vice-Rector

Scientific interests: state regulation of economic activity; information systems, Economics.

Liubov Budniak, State Agrarian and Engineering University in Podilya

Associate Professor, 

Finance, Banking, and Electronic Payment Systems Department

 

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