Concessional Lending Research Articles

Программно-целевой подход как инструмент развития сельского хозяйства: становление, новации, опыт Волгоградской области

The article is devoted to the program-target approach in the development of agriculture. A significant contribution to the provision of the country’s food security and the solution of significant problems in the industry is determined by the “State Program for Development of Agriculture and Regulation of Agricultural Products, Raw Materials, and Food Markets” adopted in 2018, which is currently being implemented. The author paid attention to the development of some aspects of the program-target method of agriculture support in the context of studying the content of this program based on the application of an evolutionary approach. The article provides a brief overview of the changes in the program of time periods, the regularity of which not only proves the relevance and importance of this document for agriculture support but also contributes to the timely identification of problems and the planning of measures to solve them. The radical transformation of the instrument of state programs and modification of approaches to their development and implementation have been carried out since 2021 within the framework of the approved regulations by the Decree of the Government of the Russian Federation. There is a change in approaches to the goal-setting system of such programs in terms of strategic priorities’ clarification in the field of their implementation, as well as synchronization in accordance with the national goals of the country. The agriculture of the Volgograd region is included in the list of strategic priorities of the region, the development targets of which are prescribed in the subprograms of the state program that is being implemented in the country. The methods for achieving the mentioned targets are: taxation, concessional lending, insurance, mainly with government support, and grant financing. The main results of the development of agriculture in the context of the implementation of a program-oriented approach are analyzed.

Влияние льготного кредитования на активизацию деятельности субъектов малого и среднего предпринимательства

В статье на основе анализа текущего состояния субъектов малого и среднего предпринимательства определяются ключевые факторы, повлиявшие на изменение показателей их деятельности. Выявляются основные проблемы, препятствующие развитию данного сегмента. Систематизируются меры государственной поддержки и оценивается их влияние на активизацию деятельности субъектов малого и среднего предпринимательства. Особое внимание уделяется финансовым мерам господдержки, среди которых наибольший эффект продемонстрировали программы льготного кредитования. При этом расширяется не только перечень программ, отраслей и производств для доступа к кредитам по льготным ставкам, но и совершенствуется инфраструктура кредитования. Все это позволяет не только сохранить и увеличить темпы прироста объемов производства в секторе малого и среднего предпринимательства, но и обеспечить экономку страны необходимыми товарами и услугами, особенно в постоянно меняющихся условиях ведения бизнеса и санкционного давления. Based on the analysis of the current state of small and medium-sized businesses, the article identifies the key factors that influenced the change in their performance indicators. The main problems hindering the development of this business segment in modern conditions are identified. The measures of state support are systematized and their impact on the activation of the activities of small and medium-sized businesses is assessed. Special attention is paid to financial measures of state support, among which concessional lending programs have demonstrated the greatest effect. At the same time, not only the list of programs, industries and industries for access to loans at preferential rates is expanding, but also the lending infrastructure is being improved. All this makes it possible not only to maintain and increase the growth rate of production in the small and medium-sized business sector, but also to provide the country’s economy with the necessary goods and services, especially in the constantly changing business environment and sanctions pressure.

Forecasting the Impact of the Structure of Financing Sources on the Results of Production Activity in Agriculture

The study conducted to assess the impact of the source of financing on the results of production activities of small and medium-sized businesses in agriculture in Kazakhstan is presented in the article. When building the model, the authors used the method of correlation and regression analysis, including calculations of pairwise regression, as well as the method of building statistical equations. Statistical data on the volume of financing of SMEs in agriculture by way of own funds, government resources (concessional lending, subsidies, and leasing), and non-state sources of financing such as borrowed funds from banks, microfinance organizations, credit partnerships, and leasing companies were used as the factors. Firstly, the results of the study showed that such factors as bank lending and leasing financing by private companies do not have a significant impact on production volumes. Secondly, of all the factors analyzed, the greatest impact on gross output was made by financing by microfinance organizations and credit partnerships, which determines and indicates the need for the development of non-state sources of financing. Thirdly, a comprehensive approach combining state financial support as well as available non-state financial resources is needed to achieve the strategic objectives of economic development and ensure the required level of food security.

ИНВЕСТИРОВАНИЕ В ОТДЕЛЬНЫХ СЕГМЕНТАХ АГРАРНОГО СЕКТОРА РФ: СПЕЦИФИКА, ПРОБЛЕМЫ И ТРЕНДЫ

Qualitative and quantitative characteristics of the investment process determine the prospects for the development of any industry, including agriculture. The paper attempts to systematize the features, benefits and risks of investing in certain sectors of the agricultural sector (grain production, vegetable growing, animal husbandry, poultry farming). The main problematic points in the development of investment processes in the sub-sectors of agriculture have been identified, related both to objective reasons (long payback period of investments, significant capital intensity, risks due to natural factors) and subjective aspects (Western sanctions, protectionism in the export of products, leading to restraining purchase prices for agricultural products). The analysis of indicators characterizing the conditions, dynamics and results of investment activities in the industry as a whole and the specifics of investing in individual segments has been carried out. It is concluded that there is a general positive trend in the investment activity of agricultural producers in 2018-2022, both due to maintaining good profitability of activities and due to government subsidization of interest rates on loans. In the context of individual sub-sectors, different rates, volumes and results of investment processes are noted. An assessment of the sources of financing investments in the agricultural sector is given, according to which the main source of investment is the enterprises' own funds. At the same time, state financial support through concessional lending to agricultural producers retains an important role. The conditions and promising directions for the development of investment in agriculture, including those related to import substitution, are outlined.

Economic aspects of goose and duck breeding development

The issues of goose and duck farming have not been raised at the economic level for a long time. Over the last decade, National Statistics Bureau Agency for Strategic Planning and Reforms of the Republic of Kazakhstan has not had information on the development of this type of poultry farming. Due to it the authors raised questions about the need for and prospects of the industry. The purpose of the article is to show the possible prospects for expanding the production of goose and duck breeding in our country as well as to identify the barriers that hinder their development. The results of the study can be applied in agricultural formations, peasant or farm enterprises. The abstract– logical method allows you to reveal the opportunities for Kazakhstan to develop poultry in the form of geese and ducks; the statistical method helped the authors to consider options for the development of the market for ducks and geese by using examples from other countries. In the world practice the meat of geese and ducks, which contains biologically valuable proteins and lipids. It has a higher energy value, as well as a high quality of production under relatively light conditions for care and cultivation. The authors give a comparative characteristic of the energy value of various types of meat, show options for using additional products of domestic waterfowl. Statistics on the prices of goose and duck meat, characteristics of their consumer properties, and recommendations for improving the development of the industry are given. The issues of food security of the population can be solved by expanding the market under consideration and through cooperation with stable agricultural and processing enterprises. Business development requires a small amount of government support in the form of concessional lending, temporary reduction or elimination of taxes.

CURRENT CHALLENGES AND PROSPECTS OF LOAN PORTFOLIO QUALITY MANAGEMENT IN WARTIME: THE CASE OF UKRAINE

The purpose of the study is to develop effective ways to solve the problems of managing the quality of the loan portfolio of the Ukrainian banking sector in the context of the financial crisis caused by the russian-Ukrainian war. In the course of the study, such scientific methods as fundamental provisions of the credit portfolio theory, multifactor regression analysis, extrapolation, trend analysis, mathematical programming, etc. have been used. A methodical approach to the study of contemporary problems and prospects of loan portfolio quality management under martial law, consisting in modelling the profitability of the Ukrainian banking sector, taking into account the quality of the loan portfolio, has been proposed. This approach is implemented by constructing a two-factor power regression equation; forecasting with the establishment of confidence intervals and the development of 3 forecast scenarios (realistic, pessimistic and optimistic); solving the target function to maximize the profit of the banking sector, taking into account the restrictions formed on the basis of forecasting results. A power model of dependence of Ukrainian banking sector profitability on the volume of loan portfolio and non-performing loans has been built and its statistical significance has been established on the basis of official statistics for 2012–2022. It has been determined that an increase in the volume of the bank loan portfolio by 1% leads to an increase in bank income by 3.1%, while an increase in the volume of non-performing loans by 1% leads to a 0.28% reduction in revenues of the banking sector of Ukraine. The loan portfolio and NPL series have been extrapolated to 2023–2025, which is consistent with the medium-term, as long-term projections would be unreliable under martial law and deep recession. According to the results of medium-term forecasting and optimization, it has been proved that the maximum growth of bank revenues by 60.4%, compared to 2022, is possible with an increase in the loan portfolio by 18.9%, a reduction of non-performing loans by 26% and a reduction of their share in the loan portfolio by 13.9%. It has been justified that the key condition for maximising bank revenues is the soonest termination of the russian-Ukrainian war and further expansion of effective government concessional lending programs. In particular, the effectiveness of the state program “Affordable Loans 5–7–9%”, which provided 19% of the bank loan portfolio in Ukraine and became a key mechanism of anti-crisis business support both during the COVID-19 pandemic and during the large-scale invasion from 2022 during the russian-Ukrainian war, has been substantiated.

Poultry meat market: world experience, import, export

Poultry products are popular on all continents. In addition to economic factors (the cheapest), poultry meat is healthy, nutritious, safe and the most affordable among other meat products. The goal is to develop priority areas for the poultry meat market in the context of ensuring the country's food security based on an analysis of the main trends in its development. The objects of research are the economic processes of the world production of poultry meat products. The following methods were used – abstract-logical, comparative analysis, economic-statistical. Results – the current situation in this sub-complex of the republic and in the world is analyzed. Emphasis is placed on the features of the commodity-geographical structure of the industry. The experience of international trade, pricing factors were studied. The composition and structure of imports and exports are outlined, criteria are identified that restrain the growth of volumes of this type of domestic meat products, as well as exports; proposals were made to expand the range of goods. The authors state the need to modernize production facilities. The importance of state support based on concessional lending is shown. Problems have been identified that require exemption from taxation of enterprises in this area, financial assistance in food certification, attracting investors to scientific research, equipping with the latest equipment, and improving technologies for obtaining environmentally friendly organic products. It is noted that the development of the poultry meat market is economically beneficial and there are significant potential opportunities for its expansion in Kazakhstan. Conclusions – it is substantiated that in a developing economic environment it is important that enterprises remain competitive. Manufacturers are now realizing the benefits of participating in the global economy. To this end, it is necessary to improve the regulatory framework and ensure that Kazakh products comply with international standards. Quality raw materials need to be available to manufacturers of poultry meat products. To do this, it is necessary to grow the required livestock through the development of the domestic base of selection and genetic centers, which will expand the range of food on the consumer market.

Creation of a cooperative for the joint operation of agricultural machinery: the need, prospects, the mechanism of intra-economic relations

Among many factors of sustainability of agricultural production, a special place is given to the cooperation of agricultural enterprises. The goal is to substantiate the need and prospects for the creation of cooperatives for the joint use of agricultural machinery, irrigation and drainage systems, the development of principles for regulating intra-economic relations between their members in the south of the republic, and the determination of the prerequisites for the development of cooperative structures. Methods – monographic, calculation-constructive, analytical, economic-statistical, social survey of agricultural producers who participated in the training seminars PMID-2. Results – analysis of the status of pilot projects of agricultural cooperatives of the Maktaaral and Shardara districts of the Turkestan region was carried out, on the basis of which promising directions for their improvement, organizational and economic conditions for the creation of a cooperative machine-technological station (MTS) were identified in order to organize the collective operation of agricultural machinery; building economic ties between members and the cooperative association; The demand for expanding the scope of the model of cooperation for the collective use by agricultural producers of irrigation and drainage mechanisms for irrigated areas in compliance with the hydraulic principle is shown, which will help increase land fertility, crop yields, and, accordingly, the efficient use of land, water and other resources. Conclusions – the results of the study on the implementation of the PMID-2 project, measures to provide cooperating entities with agricultural machines as part of the implementation of the Pilot Project of the Zhambyl region and scaling it in other regions of Kazakhstan confirm the expediency of continuing the process of cooperating small farms, improving the material and technical base of agricultural producers, providing measures of state support for the purchase of equipment through concessional lending and rational use, as well as irrigation and drainage systems by employees of an agricultural cooperative.

The Effectiveness of Measures to Financially Support Small and Medium-sized Businesses During the Coronavirus Crisis in Kazakhstan

The most important tool for comprehensive support for the development of entrepreneurship in Kazakhstan is specially developed state programs to support small and medium-sized businesses, with an emphasis on concessional lending to priority sectors of the economy. The article presents a study to determine the effectiveness of government measures of financial support for small and medium-sized businesses during the crisis caused by the coronavirus pandemic. The role of the mechanism of concessional business lending among other business support measures has been determined, positive and negative aspects of measures aimed at stimulating and supporting entrepreneurship in Kazakhstan have been identified. The statistical data characterizing the state of small and medium-sized businesses during the crisis period have been studied, the risks and consequences of stimulating measures for the economy in the future have been identified. The results of the study indicate that despite the economic downturn, the support measures taken have allowed Kazakhstani small and medium-sized businesses to avoid holding on to business activity during the acute phase of the coronavirus crisis

Development of the St. Petersburg Tourism Cluster in the Framework of Creating New Attractiveness Factors for the Hotel Chain Through Mid-Range Apartments

The purpose of this study is to identify the characteristic features of the process in which the tourism industry of St. Petersburg is becoming more popular due to the spread of middle-class apartments. The article considers the problems of the tourism industry associated with the consequences of the pandemic, as well as with the political and economic pressure of other countries. Possible solutions are proposed due to concessional lending for the construction of hotels and apart-hotels. As a result, the reasons why apartments are in high demand in the Russian Federation were revealed. We believe that the analysis carried out indicates the expediency of investing in the construction of apartments and bringing the lease into an official type of activity. In the future, this will lead to an increase in the quality of service to tourists, an increase in the level of satisfaction and an increase in the income of the industry. It is also necessary to introduce concessional lending programs, which in the long term will lead to the stimulation of the tourism industry, as well as related industries, including construction. The latter, in turn, is a driver of economic processes taking place in the Russian Federation.

Impacts of the CBAM on EU trade partners: consequences for developing countries

ABSTRACT This article analyses the impact of the introduction of the Carbon Border Adjustment Mechanism (CBAM) on European Union (EU) trade partners, focusing especially on its potential socio-economic and external consequences for developing and emerging economies (EMDEs). It uses trade data and Multi-Regional Input-Output (MRIO) matrices to investigate the geographically and sectorally uneven distribution of CBAM’s potential impacts. The introduction of the CBAM by the EU is still under discussion. This mechanism, which seeks to reduce the incentives for firms to outsource their carbon emissions and promote a more generalised low-carbon transition, might disproportionally expose some non-EU economies. In absolute terms, Russia, China, Turkey, and Ukraine are the main EU trade partners in CBAM products, and hence the most exposed countries in external and socio-economic dimensions. In relative terms, the degree of exposure of economies that export CBAM products to Europe varies substantially, with many developing economies having more than 2% of their exports and 1% of their production impacted by this measure. East European economies, mainly in the Balkans, as well as Mozambique, Zimbabwe, and Cameroon in Africa, are the most exposed as far as the external dimension is concerned. In socio-economic terms, we can also include Morocco and Tajikistan to the group of most exposed economies. In the end, promoting the substitution of highly polluting technologies with green technologies seems notably easier in Europe than in EMDEs. Many jobs, tax revenues, and export revenues will be lost if the CBAM is implemented without taking into account the specificities of the EU’s trading partners. We discuss options to mitigate adverse consequences on EMDEs.

IMPACT OF THE PANDEMIC ON CHANGING GLOBAL POVERTY RATES

The purpose of this article is to study the impact of the global pandemic on the deterioration of social conditions, property inequality and changes in the poverty line. The solution of socio-economic problems around the world is connected with inclusive economic development.Methodology. Collection, processing and generalization of information when analyzing the reduction and elimination of global social inequality, changes in poverty as a result of pandemics, the amount of funding to ensure a minimum level of social protection in countries, common logical methods were used to analyze and compare materials from international organizations and foundations, domestic and foreign researchers.Originality/ value of the research. To prevent the growth of poverty at the global level, increasing the value of the article is aimed at the cluster development of the Republic of Kazakhstan based on the model of inclusive economic development by analyzing scientifi c works and world scientists and materials of international organizations, identifying shortcomings and weaknesses of social problems.Findings. The article examines the changes in global poverty caused by the coronavirus crisis, the gender gap among those who lost their jobs due to the pandemic, the impact of the pandemic on households and medium and small businesses, concessional lending by the IMF to 29 poor countries to overcome the pandemic crisis and Kazakhstan's anti-pandemic programs.In the analysis, the author examines the goals of the UN Sustainable Development Agenda for the period up to 2030, the World Development Report 2022 of the World Bank. The report analyzes the stages of concessional lending by the International Monetary Fund (IMF) to poor countries and the IMF fi scal monitor, as well as fi scal measures of the Republic of Kazakhstan in response to the global pandemic.

POLICY OF SOCIAL SECURITY OF COMBATANTS IN FOREIGN COUNTRIES

The article examines foreign models for the formation and implementation of the social security policy for combatants. In the article, based on the analysis of foreign experience, the task of preparing recommendations for improving the domestic state social veteran policy was solved. In the course of the study, a comparative method was used, as well as structural-functional, methods of analysis and synthesis, induction and deduction, modeling, and others. The article illustrates the features of social policy in relation to combatants in countries such as Croatia, South Korea, the United States and Israel, representing veteran social policy in different regions of the planet.
 Foreign experience in the formation and implementation of the social security policy for combatants indicates a variety of models - from the creation of a separate central executive authority - to the functioning of individual units within the defense or social ministries. A joint characteristic of foreign models of veterans' social policy should be recognized as the involvement of local authorities in the implementation of meeting the social needs of combatants on the ground and the widespread introduction of public-private partnership mechanisms. We recognize as excellent characteristics the involvement of the resource potential of the state and the private sector – from concessional lending to activate veteran businesses and social adaptation – to direct financial social payments, which depends on the level of economic development of the state and the focus of social attention on this particular category of the population. This approach provided an opportunity to formulate evidence-based recommendations for improving the national veterans' social policy in two directions: 1) strengthening the institutional capacity of the central executive authority (Ministry of Veterans Affairs of Ukraine) and 2) developing a policy of local communities on social security and stimulating entrepreneurial activity of combatants actions in the prospects of research on this issue, attention is paid to the legislative support of the above-mentioned areas.

ANALYSIS OF STATE SUPPORT MEASURES FOR SMALL BUSINESS IN MODERN CONDITIONS

The modernization of Russia implies a qualitative breakthrough in the small business sector, using new technologies and developing the innovation sphere. The creation of a developed small business can solve many modern Russian problems, so the state should develop small businesses and, if necessary, support them. The issues of the need to support small and medium-sized enterprises became especially acute during the coronavirus pandemic and continue to be relevant both abroad and in Russia. The first part considers the share of small enterprises in the overall structure of enterprises in world practice, as well as general measures to support this category of enterprises. The second part is devoted to the analysis of support measures provided in connection with COVID-19 in developing and developed countries of the world. Different countries offer their own support measures, the analysis and implementation of which can help other countries to fight the crisis. The study of domestic and foreign experience in providing support to small and medium-sized businesses made it possible to identify general and private forms of assistance. The authors concluded that support measures for all countries are aimed at reducing the tax burden and concessional lending.

Особенности микрокредитования субъектов малого и среднего предпринимательства на региональном уровне

Representatives of small and medium-sized businesses make a significant contribution to the regional economy, thereby ensuring the rhythmic development of the national economy. The state systematically carries out various measures to support small and medium-sized businesses, including implementing concessional microcredit programs. The purpose of the study was to assess the scale and quality of the implementation of the «Program of concessional lending to small and medium-sized businesses» at the regional level – in the Bryansk region. The authors analyzed the dynamics and structure of the portfolio of concessional loans issued to small and medium-sized economic entities in 2019-2022. state microfinance organizations. Factors affecting the effectiveness of lending technologies and support for small and medium-sized businesses in the Bryansk region were analyzed, weaknesses were identified and ways to optimize the process of preferential lending to small and medium-sized businesses were proposed. The recommended measures should be implemented at both the national and regional levels. It is proposed to allow microfinance companies to engage in other activities (production, trade) to increase the ability to issue preferential loans due to profits received from additional activities (national level). Regions should improve the awareness of entrepreneurs and receive feedback on concessional microcredit programs.

Производственно-экономические особенности сельскохозяйственного районирования: региональный аспект

Abstract. Purpose. The article is devoted to the study of spatial differentiation of the basic conditions for the development of agricultural production and the identification of production and economic features of agricultural zoning of the Volgograd region, the parameters of which determine the development of priority areas and tools for the territorial development of the agrarian economy of the region. Methods. The methodological basis of this article is formed by the general scientific principles of the territorial (spatial) approach; methods of analysis – computational and constructive, system analysis, expert assessments, economic and statistical; the basic research tool is agricultural zoning, the practical use of which makes it possible to identify peculiar territorial formations with their characteristic production and economic features. Scientific novelty. The presented generalization of the spatial differentiation of the basic conditions for the development of agricultural production in the region made it possible to identify the production and economic features of agricultural zoning, manifested in: pronounced natural zonality of the distribution of agricultural productive forces; changes in the nature and production and economic proportions of agricultural production when moving from north to south and from west to east; local manifestations of contrasts “center – periphery” in the countryside. Results. Within the framework of the substantiation of the production and economic specifics of the zoning of rural territories of the Volgograd region, the parameters of specialization, settlement of the population and its self-sufficiency with agricultural food, as well as the efficiency of the functioning of agricultural production were investigated. Processing of a set of socio-economic indicators made it possible to argue the priorities of territorial development of agricultural production in agricultural areas, the essence of which is: the need for regulatory influence from the state to stimulate the processes of diversification of activities and compliance with scientifically sound crop rotations on the most fertile lands of the region; comprehensive investment (concessional lending and targeted project financing, subsidies and subsidies) and infrastructure (development of land reclamation, cooperation, logistics and processing) support for livestock and feed production in the arid areas of the region.

Оценка эффектов применения проектных инструментов промышленной политики в регионах

Introduction. This study is devoted to the analysis of industrial policy project instruments implemented by the Russian Industrial Development Fund, from the standpoint of assessing their impact on the systemic results of the industrial development of Russian regions. Theoretical analysis. The industrial sector of the economy has historically played a key role in the socio-economic development of Russia. Given the backbone role of industry in the country’s economy, the issues of state support for industrial development are traditionally the most important on the agenda of the state’s economic policy. Established in 2014, over the past period, the Fund has demonstrated the flexibility and adaptability of its programs to changing conditions, has provided its customers with convenient tools for concessional lending for technological modernization projects, and, in general, has become the most popular instrument of industrial policy. At the same time, the question of the strategic effectiveness of the Fund’s activities as a systemic institution of industrial policy, solving not only local tasks of supporting modernization projects and creating new industries, but also the tasks of industrial development and growth in general, remains open. Empirical analysis. Given that the problem of industrial development is ultimately localized at the level of the constituent entities of the Russian Federation, in this study, based on the methods of regression analysis, an assessment has been made of the impact of the Fund’s activities on the development of the manufacturing sector in the regions of Russia. The work has assessed the impact of projects implemented within the framework of the Fund’s programs on the indicators of the production index and the volume of shipment of goods, services on their own in the manufacturing industry of the region by groups of constituent entities of the Russian Federation, depending on the level of the average annual cost of investment projects implemented with the participation of the Industrial Development Fund. Results. The analysis has showed that the Fund’s current tools have a positive effect on the systemic growth and development of industry only up to a certain level of intensity of their use in regions with an average and low level of industrial development. As for industrialized regions, the results obtained here from the standpoint of systemic effects of accelerated industrial development are not obvious.

Эволюция подходов к льготному кредитованию АПК в постсоветский период

One of the key mechanisms of state support for the agricultural sector is concessional lending. In the history of post-Soviet Russia, preferential agricultural credit has evolved from quasi-market forms of subsidized support for the industry into a classic bank loan with interest bonification. Therefore, the identification of problems typical of modern mechanism of concessional lending in the agro-industrial complex is impossible outside the historical context and the general logic of its development, which determines the relevance and purpose of the study. The tasks of the study are as follows: systematization of forms and methods of concessional lending in the agro-industrial complex in the content and chronological taxonomy; identification of modern problems of the mechanism of concessional lending and measures for their solution. The article shows that two main stages can be distinguished in the evolution of concessional lending in the agro-industrial complex. The first stage (1992–2000) was characterized by the preservation of approaches typical of a centralized economy, which led to the actual substitution of credit relations with implicit forms of budgetary financing of the industry. At the second stage (from 2000 to the present), the main form of credit relief for farmers was the subsidization of interest rates for borrowers, and later for lenders. However, despite the fact that the main problems were solved and the market moved to purely market support instruments, the preferential loan still have many problems, the main of which are the duration and complexity of the procedure, the lack of differentiation of requirements for borrowers, absence of seasonality understanding and operational specifics of agriculture, limited areas for the use of allocated funds, insufficient budget financing. The mentioned problems of preferential loans in the agro-industrial complex are the basis for further research in the field of its modernization and development.

Improving the Program-Targeted Management Methodology and Its Practical Application for the Sustained and Environment Development of Agro-Industrial Complex

The following paper considers the flaws of the development stage, implementation patterns, changes in the monitoring procedure within State Programs and the National Project for the Development of the Kazakhstan’s agro-industrial complex. The risks caused by the poor attention to long-term industry development priorities based on environmental, social, governance principles and the abundance of planned quantitative indicators are identified.
 The dynamics of Kazakhstan’s agricultural industry development key indicators is compared with the indicators of countries successful in implementing agricultural policies. The effectiveness of the implementation of the goals in the country context was assessed. The impact of global challenges such as global climate warming, water scarcity, significant atmospheric pollution as a result of increased emissions from agriculture, worldwide forest loss, soil depletion on the development of world agricultural markets has been confirmed. An average pace of Kazakhstan’s agricultural market development has been confirmed. The expected GDP value in agriculture is predicted in case of an increase in investment in fixed assets.
 The paper concludes that Kazakhstan has not reached its full agricultural potential and recommends giving attention to such drivers of the agricultural sector development as the increase in fixed assets, in the volume of concessional lending, and in the efficiency of the state subsidy system including measures for the sustainable and environmental development of the agricultural industry.

The Impact of Mortgage Loans on Housing Affordability in Kazakhstan

According to the Bureau of National Statistics of the Republic of Kazakhstan, there are 287 premises per thousand inhabitants in Kazakhstan regarding the number of residential premises and the average annual population. The problem of urgent housing need in Kazakhstan is being solved by the accelerated development of housing construction and by state programs for concessional lending. Housing affordability is one of the pressing issues of the socio-economic policy of any state. One of these programs is “NurlyZher”. The main measures of state support are aimed at the construction of affordable housing for the general population. To solve housing affordability issues, the “7-20-25” program was developed in 2018, which has the most significant demand. Therefore, it is essential to understand whether the population can take out a mortgage. This study builds on research by the Center for Applied Economics Research (AERC) on housing affordability in the country. This study uses two indicators, HPI and HPA, calculated for significant cities and regions. For the calculations, the official statistics of the BNS between 2015 – 2020 were used. According to results based on the HPI indicator, residents cannot save for housing with an average salary without tak-ing into account expenses. The HPA indicator for four mortgage programs, “7-20-25” was more accessible. However, calculations were made on average data, but in practice individually. The programs developed by the state are effective since the situation with the affordability of housing has improved over the past five years.