Current trends in the financing of the innovative component in the agricultural sector

Abstract

The article analyzes the issues of financing the innovative component in the agribusiness of Russia. The article brings the analysis of the main indicators of agricultural production and reveals the current state of development of the agricultural sector. The authors highlight the features of the innovation process in the agricultural sector and the main directions of innovation in the activities of agricultural enterprises. The article also analyzes the main indicators of innovative activity in agriculture for the period 2016-2019. The work describes the sources of financing of innovation activities and the structure of institutions to support the innovation component in the agribusiness. The authors proved that the banking system is reluctant to lend to agricultural enterprises, and only a few Russian banks finance innovative developments in the agricultural sector. It is concluded that for the successful development of the agro- industrial complex, it is necessary to introduce innovations in production technologies, which requires increasing investment, as well as strengthening state support for the industry.