IMPACT OF THE COVID-19 PANDEMIC ON THE STATE OF REGIONAL AGRO-INDUSTRIAL COMPLEX
The article analyzes the existing and potential economic consequences of the pandemic for enterprises of agro-industrial complex of the Samara region and Russia on the basis of official data and expert assessments published in the mass media, highlights the difference in the reaction of large and small businesses in the agro-industrial complex to a decrease in economic activity, and also examines the main measures taken by the government in the current situation, and emphasizes the need to adjust them taking into account industry specifics. The purpose of the study is to study the conditions and consequences of reduction of social and business activity caused by the pandemic COVID-19, for the enterprises of agro-industrial complex of the Samara region, the rationale for measures to support the industry in the new conditions and possibilities of agro-industrial complex in Russia to overcome the current situation. The research was conducted on the basis of theoretical, empirical and analytical research methods, the most important of which are economic-statistical, monographic, comparative, and computational-constructive. The study found that large businesses in the agro-industrial complex are resistant to the crisis, and the COVID-19 pandemic does not significantly affect its results. Farmers and microenterprises, for the most part, do not have a margin of safety, are limited in receiving state support, and need to develop a package of special support measures.
Keywords: agro-industrial complex, COVID-19 pandemic, crisis, export, economic restrictions, system-forming enterprises, small and medium-sized businesses.
Highlights:
♦ by the spring of 2020, when the restrictions on economic activity caused by the COVID-19 pandemic came into force, the agro-industrial complex of the Samara region came with a certain margin of financial strength and economic stability, which allowed it to survive the first months of the crisis much better than other sectors of the economy;
♦ the region`s agro-industrial system-forming companies are coping with the consequences of the crisis, thanks to many accumulated resources and support measures; small business, farmers and microenterprises that are losing marketing outlets are at risk;
♦ food inflation caused by the devaluation of the ruble and the increase in the cost of imports, the closure of borders, the breakdown of supply and sales links, the decline in consumer demand and its transformation towards cheap carbohydrates and fats will lead to a decrease in investment activity of agro-industrial complex` enterprises and a slowdown in their growth rates;
♦ large businesses represented by system-forming enterprises of agro-industrial complex have a margin of safety, and the COVID-19 pandemic does not significantly affect its results, while farmers and individual entrepreneurs in agriculture and the food industry do not have a "safety cushion" and are limited in receiving state support, so they need a package of special support measures.
Elena P. Gusakova, Candidate of Economics, Associate Professor; Ilya A. Gusakov, Post-graduate student - Samara State University of Economics.