Foreign and domestic experience of financial support of the agricultural sector

Abstract

In the conditions of global reality, priority is given to the development of the agricultural sector. In the near future, the production and processing of agricultural products should become a source of diversification, a driver of economic growth. Hence, the task is to support and finance this industry. Therefore, the purpose of the scientific article is to study the main directions of financial support for the agricultural sector of foreign countries and systematize the domestic experience of state regulation of agricultural production. In the course of this study, methods of statistical and comparative analysis, generalization, system approach, logical, synthetic method were used. As a result of this study, the main directions of financial support for the agricultural sector of countries with high, medium and low income levels were identified: ensuring the profitability of agricultural production through the establishment and regulation of market prices for agricultural products; various subsidies for targeted use in priority areas; various compensation payments; payments of financial resources, the amount of which depends on the size of acreage. The analysis of the specifics of financing the domestic agricultural sector revealed that state support for entrepreneurship in this area is carried out by introducing preferential taxation for subjects of the agro-industrial complex, providing subsidies, providing preferential loans, etc. The features of financing of the domestic agricultural sector are analyzed, the problems existing in this industry are identified. Conclusions –the conducted analysis of foreign experience testifies to the active role of the state in creating favorable conditions for the development of the agricultural sector. We consider it possible to use the experience of foreign countries in the field of providing support to agriculture during conducting tax and credit policy.