DEVELOPMENT OF INVESTMENT ACTIVITY IN AGRICULTURE OF RUSSIA
Issue № 2, 2020, article № 4, pages 29-37
Section: Economic mechanism of managing
Original language title: РАЗВИТИЕ ИНВЕСТИЦИОННОЙ ДЕЯТЕЛЬНОСТИ В СЕЛЬСКОМ ХОЗЯЙСТВЕ РОССИИ
Abstract: The article discusses the problem of increasing investment in agriculture in Russia. Investment activity in the industry was evaluated by a system of indicators in dynamics in the period 2014-2018. The following main trends were identified: there was a slight increase in the physical volume of investments in fixed assets (103.3‰), the share of investments in fixed assets in agriculture in the total investment increased from 3.8‰ to 4.4‰; there is a tendency towards an increase in the share of producers' own funds and a decrease in the share of borrowed funds in fixed capital investments, which is a consequence of difficulties in attracting borrowed capital. Currently, special attention is paid to the problem of increasing the efficiency of capital investments, in connection with which the following indicators were studied: return on assets, return on assets, coefficients of renewal and retirement of fixed assets. The article notes that at present one of the main constraining factors for the development of agriculture is the low level of accumulation in industry. To ensure growth at a rate exceeding the global one, it is necessary to increase the share of fixed capital accumulation up to 28-30‰. To achieve these indicators, it is necessary to create conditions for investment growth, including the formation of a favourable investment climate, improving monetary policy, increasing the financial stability of producers, ensuring the demand of the population, and building up export potential. The conditions for opening and running a business directly affect the flow of investment and economic growth; therefore, it is necessary, first of all, to improve the institutional environment for the development of investment activity.