Financial Support Of Import Substitution And Its Outcomes

Abstract

The article examines the results of financial support in the Russian Federation for the import substitution of agricultural raw materials and food, and suggests measures to improve and expand the forms and methods of financial support for the agro-industrial complex, including direct budget financing, lending, tax price regulation, investment, customs and tariff regulation. Over the past 6 years, over 1.6 trillion roubles have been allocated to support the import substitution of agricultural raw materials and food. As a result, 1.2 thousand projects were implemented, 80% of which reached the stage of mass production. Agriculture of the Russian Federation today is a steadily developing industry that is able to provide food and agricultural raw materials not only to residents of Russia, but also to residents of other countries. However, the agro-industrial complex is not without problems, which were especially evident during the spread of the coronavirus. The more products are produced, the more acute the question of their sale becomes. Financial support for the export of raw materials and finished products from the Russian Federation is needed to maintain the growth rate of production and ensure the return on investment. In Russia, it is necessary to adopt a centralized program for the creation of agro-logistics infrastructure, and the infrastructure of a new format based on digital technologies, which would include all the functionality of sales, logistics, as well as a single information space for the entire country.