Ukraine is the only major agricultural country whose production of biofuels has declined since 2010. Nevertheless, it has set a target of 11.5 percent of primary energy supply from biomass, biofuels and waste by 2035. Agricultural land needed to produce biofuels feedstock is calculated for two scenarios based on its current 11.5 percent target and previous 5.0 percent target specified as a share of transport energy consumption. The export orientation of Ukraine’s crop sector and resulting foreign currency earnings pose trade-offs if crops are diverted from exports to biofuel feedstocks. Given these trade-offs, policy options for developing a biofuels industry while satisfying Ukraine’s export and domestic markets are to (1) bring land not currently cultivated into production and (2) increase yield. Both options are found to have substantial potential.
Recently the biofuel production has significantly increased all over the world. In Ukraine this trend is increasing under the influence of such factors as the need to overcome the energy shortage, reduce dependence on oil imports and availability of powerful natural resource potential. The aim of the article is assessment of the resource potential of bioethanol and biodiesel production in Ukraine both for domestic needs and for export. Data from the State Statistics Committee of Ukraine on production and exports volumes of major bioenergy crops is analyzed and the potential volume of biofuels production in Ukraine is calculated for achievement the research objectives. The importance of shift from exportoriented agriculture to energy crops production for their processing into biofuels within the country is described
The article considers and justifies the approach to the financing of organic production as a component of the concept of impact-investing. The essence, features and tools of impact-investment are considered. Impact-investing differences from social investment, socially responsible investment and social entrepreneurship are considered. It is proved that Impact Investment is the newest financial strategy for social development, provides for investments in business projects that initially focused on profit and positive changes in society or the environment It is noted that scientific consideration of impact investing has not yet been given due attention in Ukraine. The subject of research is at the intersection of financial technology, social entrepreneurship and organic agro-production. Impact investing is considered a separate case of social investing with more clearly defined boundaries. Examples of social enterprises both in agriculture and in the restaurant business and in manufacturing are known in Ukraine. Because social entrepreneurship is a business, it has all the rules of the business: niche search, market research, competition, investment, and more. Impact investments help measure the external effects of doing business. With the introduction of the investment impact criterion, it becomes possible to determine what this business impact is, how to measure, study and understand it. It is emphasized that Impact investing is only beginning to develop in Ukraine. Over the past few years, examples of such investments have emerged in Kyiv, Lviv, Odessa, Ivano-Frankivsk and other cities. Most of them have started their business through local businesses and have relatively small initial investments by global standards. The opinion is grounded that investment in the development of organic production can be considered as a form of impact investment. It is concluded that, given the great social importance of the development of organic production, as well as the positive effects that organic agricultural production can potentially have on the development of rural areas, the use of financial resources of agricultural holdings may be promising. It was proposed to provide a differentiated approach to the collection of a fixed agricultural tax (FAS), taking into account the availability of investments in organic agricultural production, which would have prompted agricultural holdings to include organic production units in their structure. Investments in the development of organic agricultural production, which are proposed to be considered as impact investments, would allow domestic agro-holdings to a certain extent “rehabilitate”, improve their image, give their debt to society, and contribute to the development of rural areas.
The article presents the results of a study of the world experience of using public finances in the context of the spread of the COVID-19 pandemic and evaluates domestic measures of anti-crisis support of the national economy. It was noted that the volume and forms of financial support depended on the depth of the negative consequences of a pandemic in a country, as well as on the solvency of governments, their reputation as borrowers. Developed countries had the opportunity to approve fiscal support measures for several years, while in developing countries, such measures were short-term. It is emphasized that in these conditions the biggest concern is the growing budget deficit and public debt. The total package of anti-crisis measures of Ukraine, which is estimated at UAH 111.2 billion (2.8% of GDP), is analyzed. It is noted that this package is significantly inferior to the volume of support programs in developed countries, which reached levels ranging from 5-10% of GDP (China, UK, USA) to 18.8% of GDP (Canada) and even 23% of GDP (France). It was noted that despite the fact that the implementation of the "Big Construction" program has become the largest anti-crisis instrument in 2020, which undoubtedly had a positive effect and impact on economic indicators, it should not be considered an anti-crisis measure. This program was planned before the deployment of the COVID-19 pandemic, it is not directly related to the direct support of the population and compensation for business losses, so it cannot be considered a government response to the COVID-19. It is concluded that the expected continuation of the pandemic in 2021 will require governments to pursue policies to support business and households. In these circumstances, the Ukrainian government will be required to increase the volume of anti-crisis measures. At the same time it is necessary to observe prudence and caution in choosing the sources of government borrowing. For the Ukrainian state, this task is complicated by the fact that overcoming the crisis must be carried out in the context of continuing reforms, strengthening the imbalance of public finances, increasing macroeconomic instability.
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