IMPROVEMENT OF THE MECHANISM OF INTEREST RATES SUBSIDIES OF LOANS OF AGRICULTURAL ENTERPRISES

The authors declare that agriculture can’t develop efficiently without state support. At the same time agricultural production meets risks due to joining the WTO. Modernization of agricultural industry is possible in case of bank crediting only. The paper considers interest rate subsidies as the significant instrument of state support of agricultural producers. Implementation of this measure is followed by the lack of funding in federal and regional budgets and high debt of agricultural enterprises, which is revealed in a great share of loan funds in total funding of agricultural enterprises. Agricultural enterprises have to spend significant part of profit on interest rate covering. The specialists apply co-efficient of interest rate repayment in order to estimate the ability of enterprises to serve a loan. The authors suppose, the government should provide interest rate subsidies and take into account significant debt of agricultural enterprises and its negative dynamics. The authors suggest applying calculation of subsidy by means of the standard for interest rate repayment co-efficient. The co-efficient parameter of loan repayment conforms to relative security and contributes to reducing risks. This measure allows increasing the number of subsidizing projects and enterprises and not reducing the total subsidies; the measure reduces possibilities for psychologic approach and corruption and makes economic entities explain and ground their projects in a better way; it supports the agricultural state support in the contexts of reducing of total state income.

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