ASSESSMENT OF THE DYNAMICS OF THE REGIONAL AGRICULTURAL BUSINESS DEVELOPMENT IN VARIOUS ECONOMIC ZONES BY THE EXAMPLE OF THE PENZA REGION

Yunyaeva Rimma Ravilovna, Doctor of economic sciences, professor, sub-department of economics and finances, Penza State University (40 Krasnaya street, Penza, Russia), rimmarav@yandex.ru
Klemanova Irina Valentinovna, Postgraduate student, Penza State University (40 Krasnaya street, Penza, Russia), iriska_elis@mail.ru

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Background. In the current economic conditions, investing funds into agriculture is very risky. Therefore, many investors prefer to invest in other more profitable and fast returning projects. However, this sector of the economy is very important for the development of the national economy as a whole and for each region separately. In the Penza region, there are many investment areas of the agricultural sector within the boundaries of a particular economic zone. The purpose of the article is to analyze information on the most promising economic zones of the region for investment in agriculture, as well as to show the functioning dynamics of agrarian formations of the Penza region, their prospects and problems of further development according to their financial stability.
Materials and methods. Implementation of the research tasks was achieved by analyzing the data of the accounting financial statements of agricultural organizations of the Penza region. The methodological potential included the methods of sta-tistical grouping of data, comparing them with each other and the selection of priority areas for agricultural development in the region. The coefficient agrarian formations’ financial stability was used as a selection criterion.
Results. The authors studied the principles of separation of the economic zone, the main criteria for belonging to a particular economic zone, carried out statistical grouping of agricultural producers on the basis of the coefficient of financial stability, resulting in acquisition of the data on the number of unprofitable and promising enterprises. The researchers analyzed the interdependence of financial stability with territorial and sub-sectoral characteristics, as well as studied the dynamics of growth / decrease in the proportion of equity and loan capital of agrarian formations of the Penza region, depending on belonging to one group or another.
Conclusions. In the Penza region the amount of profitable and crisis agricultural enterprises is almost in the same ratio. Profitable enterprises mainly use their own capital and long-term borrowed funds invested mostly in investment projects. Unprofitable agricultural producers "survive" taking large amounts of short-term loans from banks, trying to save the production, profit and return the loans. These facts have been confirmed and by the present study. Providing the necessary financial re-sources is the key to agricultural activity of the Penza region. Therefore, the analysis of the availability of sources of capital formation and allocation and the assessment of fund sources structure is of great importance. In the agricultural organizations of the Penza region analyzed the impact of the activities is very different. In groups with absolute and normal stability there is enough of equity capital, but borrowed capital is also actively used. In groups with unstable and crisis conditions the equity capital ratio is very small, and at some plants, there is a deficit, a large share of borrowings and accounts payable. Therefore, along with the proactive fiscal policy management of agricultural enterprises, they can not do without the support of government agencies - both financial and consultancy (for example, in the field of sales).

economic zone, financial stability, dynamics of equity and loan capital, funding sources.

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