The role of investing in agriculture for sustainable economic development

2024

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DOI 10.46914/1562-2959-2024-1-1-241-255
Data confidence 70 medium
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Abstract

In conditions of global economic instability, as well as during a shock such as COVID-19, the world faces challenges to provide the planet with food. Historically, the main element of Kazakhstan economic specification is agriculture. Despite that Kazakhstan has resource and export potential, the current trend in the agricultural industry is not the country’s full power to ensure the economic accessibility of food and its physical availability not only to satisfy domestic demand, but also for export. A reason for this is that the amount of state funds allocated to this industry is insufficient despite its annual growth. In this regard, the role of investments in the agro-industrial complex is increasing in the country’s economy. This article presents an analysis of the share of agriculture in the structure of the economy of Kazakhstan and reveals its insignificant share. In this regard, ways to solve this problem have been proposed by expanding the volume of agriculture through the use of innovative methods and attracting investors to this industry for this purpose, which will ensure an increase in the growth rate of agriculture and sustainable growth of the country's economy. The study identified the limiting factors for the growth of investment in the agricultural sector in the conditions of the new reality.