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{"id":19982,"date":"2025-04-08T13:56:19","date_gmt":"2025-04-08T10:56:19","guid":{"rendered":"https:\/\/modecon.mnau.edu.ua\/?p=19982"},"modified":"2025-04-09T14:07:56","modified_gmt":"2025-04-09T11:07:56","slug":"financial-security-of-agriculture-as","status":"publish","type":"post","link":"https:\/\/modecon.mnau.edu.ua\/en\/financial-security-of-agriculture-as\/","title":{"rendered":"Burkovska A., Burkovska A. Financial Security of Agriculture as a Key Factor in Food Security: Challenges and Prospects"},"content":{"rendered":"<section class=\"wpb-content-wrapper\"><p>[vc_row][vc_column][vc_column_text]<\/p>\n<table style=\"height: auto; border: solid 1px white!important;\" width=\"100%\">\n<tbody>\n<tr>\n<td style=\"border: solid 1px white!important;\"><span style=\"font-weight: 400;\"><strong>JEL Classification:<\/strong>I31, O13, Q14, Q18<\/span><\/td>\n<td style=\"text-align: right; border: solid 1px white!important;\"><b>DOI<\/b><span style=\"font-weight: 400;\">: <a href=\"https:\/\/doi.org\/10.31521\/modecon.V49(2025)-04\" target=\"_blank\" rel=\"nofollow noopener\">https:\/\/doi.org\/10.31521\/modecon.V49(2025)-04<\/a><\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>[\/vc_column_text][vc_column_text]<span style=\"font-weight: 400;\"><b>Burkovska Alla,<\/b> Ph. D (Economics), Associate Professor of the Department of Finance, Banking and Insurance, Mykolayiv National Agrarian University, Mykolayiv, Ukraine<\/span><\/p>\n<p><strong>ORCID ID:<\/strong> <a href=\"https:\/\/orcid.org\/0000-0003-4158-1721\" target=\"_blank\" rel=\"nofollow noopener\"><span style=\"font-weight: 400;\">0000-0003-4158-1721<\/span><\/a><br \/>\n<strong>e-mail: <\/strong><a href=\"mailto:burkovskaya@mnau.edu.ua\" target=\"_blank\" rel=\"nofollow noopener\"><span style=\"font-weight: 400;\">burkovskaya@mnau.edu.ua<\/span><\/a><\/p>\n<p><b>Burkovska Anna, <\/b><span style=\"font-weight: 400;\">Ph. D (Economics), Associate Professor of the Department of Management and Marketing, Mykolayiv National Agrarian University, Mykolayiv, Ukraine<\/span><\/p>\n<p><strong>ORCID ID:<\/strong> <a href=\"https:\/\/orcid.org\/0000-0003-0563-6967\" target=\"_blank\" rel=\"nofollow noopener\"><span style=\"font-weight: 400;\">0000-0003-0563-6967<\/span><\/a><br \/>\n<strong>e-mail: <\/strong><a href=\"mailto:anna.burkovskaya12@gmail.com\" target=\"_blank\" rel=\"nofollow noopener\"><span style=\"font-weight: 400;\">anna.burkovskaya12@gmail.com<\/span><\/a><\/p>\n<p>&nbsp;<\/p>\n<h2 style=\"text-align: center;\"><b>Financial security of agriculture as a key factor in food security: challenges and prospects<\/b><\/h2>\n<p><b><i>Abstract. Introduction<\/i><\/b><i><span style=\"font-weight: 400;\">. <\/span><\/i><i><span style=\"font-weight: 400;\">In the conditions of climate change, geopolitical instability, global economic crises and the growing need of the population for safe, high-quality and affordable food products, the economic stability of the agricultural sector is of crucial importance for the state&#8217;s ability to ensure its food security. A necessary condition for ensuring the country&#8217;s food security is the financial security of its agriculture.<\/span><\/i><br \/>\n<i><span style=\"font-weight: 400;\">We have examined the existing challenges to the financial security of agriculture in the context of food security, including: insufficient financing of domestic agricultural enterprises, which are in unequal competitive conditions with international corporations; fluctuations in prices for agricultural products on the world market; dependence of agricultural producers on imported resources; export barriers; climate change and natural disasters. Overcoming these challenges requires coordinated efforts of the state, business and the international community. Promising directions for strengthening the financial security of agriculture in the context of food security are indicated, including: introduction of new technologies and innovative financial instruments and strategies; development of infrastructure and public-private partnerships; activation of investment attraction; stimulation of export operations.<\/span><\/i><\/p>\n<p><b><i>Purpose.<\/i><\/b><i><span style=\"font-weight: 400;\"> The purpose of the article is to study the existing main challenges faced by the financial security of agriculture, identify their features, and develop proposals for promising areas of development of the financial security of agriculture from the point of view of ensuring the country&#8217;s food security.<\/span><\/i><\/p>\n<p><b><i>Results.<\/i><\/b><i><span style=\"font-weight: 400;\"> In the coming years, one of the main factors in ensuring the country&#8217;s food security will remain the financial security of its agriculture. A review of the aspects of financial support of agricultural producers demonstrated a number of existing challenges in this area, which affect the sustainable development of the industry and, ultimately, the food security of the country.<\/span><\/i><br \/>\n<i><span style=\"font-weight: 400;\">It was established that the financing of the agricultural sector in the country should be available, timely and stable. Lack of investments, fluctuations in prices for agricultural products, high cost of loans and insurance, non-guaranteed income and return of monetary resources, insufficient level of implementation of modern technologies, competition with international corporations, climate change, export barriers and the war in Ukraine create certain difficulties for the activities of agricultural producers who depend on unpredictable market conditions.<\/span><\/i><br \/>\n<i><span style=\"font-weight: 400;\">The above strategies to ensure stable food production, which respond to modern challenges and open prospects for development, require coordinated efforts of the state, business and the international community.<\/span><\/i><\/p>\n<p><b><i>Conclusions.<\/i><\/b><i><span style=\"font-weight: 400;\"> A prerequisite for achieving stable food security is overcoming challenges to the financial security of agriculture. However, modern realities, including climate change, geopolitical instability, and rising energy and fertilizer prices, threaten this stability. Small and medium-sized farmers have limited access to credit resources due to high interest rates, insufficient number of government support programs and weak integration into international financial markets.<\/span><\/i><br \/>\n<i><span style=\"font-weight: 400;\">The financial security of agriculture needs to intensify the implementation of innovative financing mechanisms, such as agricultural insurance, agricultural bonds, and microfinancing. Increased investment in infrastructure development will reduce the costs of production and transportation of agricultural products. The activation of the introduction of new technologies will optimize the management of financial flows, increase the transparency and efficiency of processes.<\/span><\/i><br \/>\n<i><span style=\"font-weight: 400;\">Strategies for adaptation of agricultural producers to the problems of financial security require coordinated efforts regarding the prompt implementation of technological innovations, resource management, and interaction with the state, business, and international organizations. Only under the conditions of active implementation of modern solutions, it is possible to achieve sustainable development of the agricultural sector and guarantee a stable supply of food both in current conditions and in the future.<\/span><\/i><br \/>\n<i><span style=\"font-weight: 400;\">These proposals will contribute to the neutralization of challenges to the financial security of agriculture, which will have a significant impact on ensuring food security.<\/span><\/i><\/p>\n<p><i><span style=\"font-weight: 400;\"><b>Keywords:<\/b> financial security, food security, financial instruments, investments, agricultural producers<\/span><\/i><\/p>\n<p style=\"text-align: center;\"><strong>References:<\/strong><\/p>\n<ol>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Shebanina, O., Burkovska, A., Lunkina, T., &amp; Burkovska, A. (2023). Global aspects of food security in the world: economic dimensions. <\/span><i><span style=\"font-weight: 400;\">Modern Economics<\/span><\/i><span style=\"font-weight: 400;\">, 38, 178-185. https:\/\/doi.org\/10.31521\/modecon.V38(2023)-27.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Shebanina, O., Burkovska, A., Petrenko V., &amp; Burkovska, A. (2023). Economic\u00a0 planning\u00a0 at agricultural enterprises: Ukrainian experience of increasing the availability of data in the context\u00a0 of\u00a0 food\u00a0 security. <\/span><i><span style=\"font-weight: 400;\">Agricultural\u00a0 and\u00a0 Resource\u00a0 Economics<\/span><\/i><span style=\"font-weight: 400;\">,\u00a0 9, 4, 168\u2013191. https:\/\/doi.org\/10.51599\/are.2023.09.04.08.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Bilochenko, \u0410. (2023). Lending to the agricultural sector of Ukraine in wartime conditions. <\/span><i><span style=\"font-weight: 400;\">Economy and society,<\/span><\/i><span style=\"font-weight: 400;\"> 48, 50\u201355. DOI: https:\/\/doi.org\/10.32782\/2524-0072\/2023-48-3.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">\u00a0Urba, S., Kopytko, M. (2022). Strengthening food security as a tool for realizing the potential of competitive development of agricultural sector entities in the economic security system of Ukraine.<\/span><i><span style=\"font-weight: 400;\"> Problems of modern transformations<\/span><\/i><span style=\"font-weight: 400;\">, 5, 3-7. URL: https:\/\/reicst.com.ua\/pmt\/article\/view\/2022-5-03-07\/2022-5-03-07.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Vinnytska, O., Melnychuk, Y., Chvertko, L. (2019). <\/span><i><span style=\"font-weight: 400;\">Strakhovyi rynok yak determinanta ekonomichnoho zrostannia Ukrainy<\/span><\/i><span style=\"font-weight: 400;\">. Finansove zabezpechennia stratehii ekonomichnoho zrostannia Ukrainy. UDPU imeni Pavla Tychyny.\u00a0 https:\/\/dspace.udpu.edu.ua\/handle\/123456789\/14232_Slatvinskyi.pdf.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Zalizniuk, V. (2019). Importation in the System of protection of food security of Ukraine. <\/span><i><span style=\"font-weight: 400;\">Public administration: improvement and development,<\/span><\/i><span style=\"font-weight: 400;\"> \u2116 1. URL: http:\/\/www.dy.nayka.com.ua\/?op=1&amp;z=1374.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Caruso, D., Lunkina, T., Burkovska, A. and Burkovska, A. (2020). Assessment of the Influence of the National Bank of Ukraine Monetary Policy on Food Security of the State.<\/span><i><span style=\"font-weight: 400;\"> Accounting and Finance<\/span><\/i><span style=\"font-weight: 400;\">, \u21164(90), 45-51. DOI: https:\/\/doi.org\/10.33146\/2307-9878-2020-4(90)-45-51.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Bolotnov, D. (2022). Peculiarities of anti-crisis management of domestic enterprises. <\/span><i><span style=\"font-weight: 400;\">Innovation and Sustainability<\/span><\/i><span style=\"font-weight: 400;\">, 2, 171\u2013176. DOI: https:\/\/doi.org\/10.31649\/ins.2022.2.171.176.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Kyrychenko, S., Ruzhytskyi, A., Tulchynska, S., Saloid, S. (2021). Conceptual bases of organization of the system of anti-crisis management of the enterprise in the conditions of macroeconomic instability. <\/span><i><span style=\"font-weight: 400;\">Agroworld<\/span><\/i><span style=\"font-weight: 400;\">, 9\u201310, 18-23. DOI: 10.32702\/2306-6792.2021.9-10.18.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\">Pravdyuk, N. (2020). Analytical support of anti-crisis management of agricultural formations. <i>Economy of agro-industrial complex<\/i>, 27, \u2116 2, 33\u201344. DOI: https:\/\/doi.org\/10.32317\/2221-1055.202002033<\/li>\n<\/ol>\n<p>[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]<strong>Received:<\/strong> 24<span style=\"font-weight: 400;\">\u00a0February 2025<\/span><\/p>\n<p><span data-sheets-root=\"1\"><div class=\"sdm_download_item \"><div class=\"sdm_download_item_top\"><div class=\"sdm_download_thumbnail\"><img decoding=\"async\" class=\"sdm_download_thumbnail_image\" src=\"https:\/\/modecon.mnau.edu.ua\/wp-content\/uploads\/2017\/08\/pdf.jpg\" alt = \"burkovska.pdf\" \/><\/div><div class=\"sdm_download_title\">burkovska.pdf<\/div><\/div><div style=\"clear:both;\"><\/div><div class=\"sdm_download_description\"><\/div><div class=\"sdm_download_size\"><span class=\"sdm_download_size_label\">Size: <\/span><span class=\"sdm_download_size_value\">0,34<\/span><\/div><div class=\"sdm_download_link\"><span class=\"sdm_download_button\"><a href=\"https:\/\/modecon.mnau.edu.ua\/en\/?sdm_process_download=1&download_id=19934\" class=\"sdm_download blue\" title=\"burkovska.pdf\" target=\"_blank\">Download Now!<\/a><\/span><span class=\"sdm_download_item_count\"><span class=\"sdm_item_count_number\">324<\/span><span class=\"sdm_item_count_string\"> Downloads<\/span><\/span><\/div><\/div><div class=\"sdm_clear_float\"><\/div><\/span>[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]<\/p>\n<table style=\"height: auto;\" width=\"100%\">\n<tbody>\n<tr>\n<td style=\"background-color: #1abc9c; text-transform: uppercase;\">\n<p style=\"text-align: center; color: white; font-size: 14px; font-weight: 900; text-transform: uppercase; margin: 0; padding: 13.5px;\">How to quote this article?<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td><span data-sheets-root=\"1\">Burkovska A., Burkovska A. (2025). Financial Security of Agriculture as a Key Factor in Food Security: Challenges and Prospects. Modern Economics, 49(2025), 32-37. DOI: https:\/\/doi.org\/10.31521\/modecon.V49(2025)-04.<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<div id=\"tap-translate\"><\/div>\n<p>[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]<a href=\"https:\/\/modecon.mnau.edu.ua\/issue-47-2024\/\">&lt;&lt; Back to contents<\/a>[\/vc_column_text][\/vc_column][\/vc_row]<\/p>\n<\/section>","protected":false},"excerpt":{"rendered":"<p>[vc_row][vc_column][vc_column_text] JEL Classification:I31, O13, Q14, Q18 DOI: https:\/\/doi.org\/10.31521\/modecon.V49(2025)-04 [\/vc_column_text][vc_column_text]Burkovska Alla, Ph. D (Economics), Associate Professor of the Department of Finance, Banking and Insurance, Mykolayiv National Agrarian University, Mykolayiv, Ukraine ORCID ID: 0000-0003-4158-1721 e-mail: burkovskaya@mnau.edu.ua Burkovska Anna, Ph. D (Economics), Associate Professor of the Department of Management and Marketing, Mykolayiv National Agrarian University, Mykolayiv, Ukraine ORCID<br \/><a href=\"https:\/\/modecon.mnau.edu.ua\/en\/financial-security-of-agriculture-as\/\" class=\"more\">Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":13475,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[229],"tags":[230],"class_list":["post-19982","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-49-2025","tag-49-2025"],"_links":{"self":[{"href":"https:\/\/modecon.mnau.edu.ua\/en\/wp-json\/wp\/v2\/posts\/19982","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/modecon.mnau.edu.ua\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/modecon.mnau.edu.ua\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/modecon.mnau.edu.ua\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/modecon.mnau.edu.ua\/en\/wp-json\/wp\/v2\/comments?post=19982"}],"version-history":[{"count":0,"href":"https:\/\/modecon.mnau.edu.ua\/en\/wp-json\/wp\/v2\/posts\/19982\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/modecon.mnau.edu.ua\/en\/wp-json\/wp\/v2\/media\/13475"}],"wp:attachment":[{"href":"https:\/\/modecon.mnau.edu.ua\/en\/wp-json\/wp\/v2\/media?parent=19982"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/modecon.mnau.edu.ua\/en\/wp-json\/wp\/v2\/categories?post=19982"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/modecon.mnau.edu.ua\/en\/wp-json\/wp\/v2\/tags?post=19982"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}