Indicators of State Financial Support for Capital Reproduction in the Agrarian Sector of the Economy: The European Union and Ukraine

The efficiency of state financing of the agrarian sector of the economy involves ensuring the positive dynamics of its development and the establishment of appropriate indicators of assessment. The purpose of the article is to justify the priorities of state financial support for the restoration of capital in Ukraine in the context of European integration. According to the results of the comparative analysis, a triad of signs of the main models of state financial support of the agrarian sector of the economy has been determined on the basis of: "type of financial policy - the purpose - consequences for the market environment". The analysis of dynamics and structure of the total budget support of agricultural producers in the EU and in Ukraine is carried out. Its basis in the European Union is the support of producers, during the twenty years the consumer support has significantly decreased, almost to zero. An important object of state support is the financing of capital investments by farmers. It is established that the general state support of economic entities of the agrarian sector of economy in Ukraine is negative, primarily due to financial relations of the state with agricultural producers, which are characterized by excess of taxes paid on volumes of reverse transactions from budget. However, the level of support for general services in the agrarian sector of Ukraine's economy, as a percentage of GDP, is almost twice as high as the European one. Comparison of production volumes with the state financial support and prices for individual product groups made it possible to conclude that the competitiveness of domestic agricultural products relative to European, especially crop (corn, sunflower). The main objective of the financial policy of reproduction of capital in the agrarian sector of the Ukrainian economy is to ensure its long-term sustainable, expanded reproduction on an intensive type on an innovative basis, taking into account the requirements of EU integration.