Monetary stimulation of the development of the agricultural sector of the Russian economy in the conditions of sanctions restrictions

In recent years, the agricultural sector of the Russian economy has been under the influence of unprecedented anti-Russian sanctions. In such conditions, powerful government support is required, including through monetary instruments. The article examines the mechanism of monetary stimulation of the agricultural sector of the Russian economy in the context of increasing sanctions from unfriendly states. The main strategic guidelines of the state in the field of agricultural development in Russia are highlighted. The mechanism of preferential lending to agricultural producers as the most important tool for monetary stimulation of the development of their activities is analyzed. Particular attention is paid to the specifics of lending to small businesses (SMB) in agriculture. The influence of the dynamics of the weighted average lending rate for enterprises in the agricultural sector on the volume of agricultural production has been studied. The role of Rosselkhozbank JSC in the mechanism of monetary stimulation of the development of the agricultural industry in Russia under the conditions of sanctions is shown. The schemes for financing small enterprises in the agro-industrial complex and agricultural consumer cooperatives within the framework of the program of preferential lending and grants are analyzed, and its first results are determined. The directions for improving the mechanism of monetary stimulation for the development of the agricultural industry in Russia have been determined, in particular, the following have been proposed: for enterprises implementing investment projects for the production of parts and components for imported agricultural machinery, and breeding enterprises – the introduction of individual conditions for preferential investment lending, as well as measures for the provision of grants or subsidies to compensate for the costs of first investments, benefits for renting production premises, a mechanism for targeted compensation of costs for the introduction of artificial intelligence at agricultural enterprises, or corresponding subsidies.