Abstract
The article analyzes the issues of financing the innovative component in the agribusiness of Russia. The article brings the analysis of the main indicators of agricultural production and reveals the current state of development of the agricultural sector. The authors highlight the features of the innovation process in the agricultural sector and the main directions of innovation in the activities of agricultural enterprises. The article also analyzes the main indicators of innovative activity in agriculture for the period 2016-2019. The work describes the sources of financing of innovation activities and the structure of institutions to support the innovation component in the agribusiness. The authors proved that the banking system is reluctant to lend to agricultural enterprises, and only a few Russian banks finance innovative developments in the agricultural sector. It is concluded that for the successful development of the agro- industrial complex, it is necessary to introduce innovations in production technologies, which requires increasing investment, as well as strengthening state support for the industry.
Highlights
The agribusiness of Russia is one of the priority parts of the economy
The importance of innovation processes in the agribusiness is primarily due to globalization and large-scale market changes in the world market, which entail an increasing role of competition, in which it is innovation and innovative technologies that are an effective way to combat competition, as they lead to lower production costs, increasing volumes and improving the efficiency of agricultural production [2]
Over the past nine years (2010-2019), the increase in agricultural production in 2019 amounted to almost 50%, including an increase in crop production of more than 60%, in livestock — 45%
Summary
The agribusiness of Russia is one of the priority parts of the economy. By its significance and uniqueness, it is the main component of industrial development, occupying a special niche in the structure of the national economy, the effective development of which is of important economic, economic and social significance for the state [12]. The importance of innovation processes in the agribusiness is primarily due to globalization and large-scale market changes in the world market, which entail an increasing role of competition, in which it is innovation and innovative technologies that are an effective way to combat competition, as they lead to lower production costs, increasing volumes and improving the efficiency of agricultural production [2]. In this regard, the study of problematic issues of the innovative component of the domestic agribusiness and its financing is being updated
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