Developing a system of credit guarantees to small farms
Importance In anticipation of new economic sanctions of the European Union and the United States, and subject to introduced restrictions on purchasing agricultural products from foreign manufacturers, the problem of providing the country’s population with food stuff is particularly relevant. Objectives The aim of this work is to consider possible proactive measures aimed at ensuring economic security of the Russian Federation while solving the food problem in conditions of economic sanctions of unfriendly foreign countries. Methods In the work, we used econometric methods to study the issue of State involvement in assistance to agricultural producers to solve the said food problem. Results We developed a mechanism of granting public credit guarantees to small agricultural producers. Conclusions and Relevance We conclude that the development of the State system of credit guarantees to small businesses will not only reduce tension in the solution of the food problem during the period of economic sanctions on the part of the US and the EU countries, but also will qualitatively increase the economic security of Russia. In addition, this will contribute to small and medium enterprise development, and thus increase the tax base when assessing taxes and charges. It is possible to solve a set of problems through transition of the government financial policy from direct financing of State-funded programs for small and medium-size business development to the practice of granting properly secured guarantees in respect of fulfillment of obligations of financial structures implementing these programs. It is particularly important to develop a system of credit guarantees in the territory of the Krasnodar region, where agribusiness is one of the main segments of the real sector.