Forecasting business risk in organic walnut production

The study presents a model for forecasting business risk in organic walnut production. For this purpose, a technology from financial risk management known as cash flow at risk in its variant “Top-Down approach” was adopted. Empirical data from the electronic register of organic farming in Bulgaria were used. A detailed analysis of the organic walnut production sector was made regarding the surface in hectares and the production distribution. The empirical distribution of the area of organic nuts in hectares in Bulgaria shows that small farmers predominate in 2023, with up to 6 hectares representing 55% of all, and those up to 12 hectares are a share of 78%, with the average production per farm will be 1376.53 kg

Digital Technology Management and Resource Efficiency in Agricultural Production

Introduction. The active adoption of digital tools is crucial for improving agricultural efficiency, which is fundamental to ensuring food security. The digitalisation of agricultural production is a key component of the measures for transitioning to a digital economy. Aim and tasks. This study aims to assess the relationship between the net profit of agricultural enterprises and the number of digital products used. It also seeks to identify the factors influencing the efficiency of agricultural production. Results. This study examines at several key factors of agricultural production. First, it considers at the share of the labour force involved in agricultural production, which has declined by 17.2% globally, 7% in the EU, and 5.2% in Ukraine. Secondly, it analyses changes in the number of workers required to produce 1% of value added from 1991 to 2023, showing a decline of 3% globally, 1.5% in the EU and an increase of 0.5% in Ukraine. Thirdly, the study assesses the level of digital skills among workers in the agricultural sector. In the EU, this level did not exceed 0.5% from 2016 to 2024, while Ukraine data is unavailable. Finally, the study includes case studies of two Ukrainian companies engaged in developing and implementing digital tools for agricultural production.  The findings regarding the dependence of net profit and the number of digital instruments used revealed relatively high correlation coefficients: 0.776 for a group of 41 AGRIChain clients and 0.902 for a group of 34 Kernel Digital clients. The resulting models of net profit dependence on the number of digital instruments used (with slope coefficients of 365.9 for AGRIChain and 13.13 for Kernel Digital) indicate the potential for further refinement. Conclusions. The establishment of a digital support system for agricultural production involves significant changes in employee competencies, a decrease in the total number of employees, and a reduction in the share of employees involved in agricultural production. Ukraine is characterised by an increase in the number of workers employed in agricultural production per 1% of added value, which is explained by structural changes in the industry. This study proposes adding metrics to statistical reporting to capture the number of digital technologies used in the production process and the number of employees skilled in using these technologies

Assessment of social protection challenges and status for agricultural workers in Kazakhstan

Agriculture plays a key role in the economy of any state. In Kazakhstan, out of a rural population of 7,444,673, there are 3,573,443 economically active individuals. In Kazakhstan, a total of 1,078,720 people are employed in agriculture, forestry, and fisheries. Of these, 478,366 are wage workers, while 600,354 are self-employed. Rural unemployment affects 4.8%. In 2023, individuals working in agriculture in Kazakhstan earned an average monthly wage of 199,536 tenge, placing them second from the bottom in the income rankings. Despite increasing agricultural output, the wages of these workers are concerning. Consequently, their low and erratic social contributions affect the future quality of social protection regarding old age, job loss, and other social risks

Specifics in Introduction and Functioning of the Currency Board in Bulgaria

The article studies two main aspects of functioning of the currency board in Bulgaria: its characteristics and its specifics and peculiarities.&#x0D; Concerning the characteristics of the currency board in Bulgaria, the attention is focused on several theoretical matters of the nature of the currency board: mechanism for introduction of the currency board; choosing the foreign currency, to which the local monetary unit is to be fixed; financing the initial currency reserve, in order for the currency board to start functioning; setting the fixed exchange rate to the reserve currency; establishing the amount of coverage of the quantity of cash in circulation by the currency reserves; administration of the currency board; implementation of the function “lender of last resort” in cases of liquidity crisis; supervision of the commercial banks’ operation.&#x0D; Each country is characterized by its specifics in terms of management of public finances, condition of the real (non-financial) sector, service sector, monetary and banking system. These specifics are reflected in the monetary boards, introduced in the individual countries.&#x0D; The article provides a detailed analysis of the specifics of the currency board in Bulgaria.&#x0D; The options for an independent monetary policy of the central bank are heavily restricted, and on the other hand, the currency board attained the goal of its policy – ensuring of price stability. As of the present moment, Bulgaria joined the exchange rate mechanism (ERM II) in 2020 and makes every effort to cover the criteria for real convergence.</jats:p

Bulgaristan'da Para Kurulunun Kurulması ve Çalışmasına İlişkin Özellikler

The article studies two main aspects of functioning of the currency board in Bulgaria: its characteristics and its specifics and peculiarities. Concerning the characteristics of the currency board in Bulgaria, the attention is focused on several theoretical matters of the nature of the currency board: mechanism for introduction of the currency board; choosing the foreign currency, to which the local monetary unit is to be fixed; financing the initial currency reserve, in order for the currency board to start functioning; setting the fixed exchange rate to the reserve currency; establishing the amount of coverage of the quantity of cash in circulation by the currency reserves; administration of the currency board; implementation of the function “lender of last resort” in cases of liquidity crisis; supervision of the commercial banks’ operation. Each country is characterized by its specifics in terms of management of public finances, condition of the real (non-financial) sector, service sector, monetary and banking system. These specifics are reflected in the monetary boards, introduced in the individual countries. The article provides a detailed analysis of the specifics of the currency board in Bulgaria. The options for an independent monetary policy of the central bank are heavily restricted, and on the other hand, the currency board attained the goal of its policy – ensuring of price stability. As of the present moment, Bulgaria joined the exchange rate mechanism (ERM II) in 2020 and makes every effort to cover the criteria for real convergence.Makale, Bulgaristan'da para kurulunun işleyişinin iki ana yönünü inceliyor: Para kurulunun vasıfları, kendine özgülüğü ve özellikleri. Bulgaristan'daki para kurulunun özellikleriyle ilgili olarak, para kurulunun doğasına ilişkin birkaç teorik konu üzerinde dikkatler toplanmıştır: Para kurulunun tanıtımı; yerel para biriminin sabitleneceği yabancı para biriminin seçilmesi; para kurulunun faaliyete geçmesi için başlangıçtaki döviz rezervinin finanse edilmesi; sabit döviz kurunun rezerv para birimine ayarlanması; dolaşımdaki nakit miktarının döviz rezervleri tarafından karşılanma miktarının belirlenmesi; para kurulunun yönetimi; likidite krizi durumlarında “son kredi mercii” fonksiyonunun uygulanması; ticari bankaların işleyişinin denetimi. Her ülke, kamu maliyesi yönetimi, reel (finansal olmayan) sektörün durumu, hizmet sektörü, para ve bankacılık sistemi açısından kendine has özellikleri ile karakterize edilir. Bu özellikler her ülke için o ülkenin durumunu ortaya koyacak şekilde para kurullarına yansıtılır. Makale, Bulgaristan'daki para kurulunun özelliklerinin ayrıntılı bir analizini sunmaktadır. Merkez bankasının bağımsız bir para politikası için seçenekleri son derece kısıtlandı buna rağmen para kurulu, politik hedefine yani fiyat istikrarının sağlanması hedefine ulaşmıştır. Bulgaristan döviz kuru mekanizmasına (ERM II) 2020'de katıldı ve şu an itibariyle gerçek yakınlaşma kriterlerini karşılamak için her türlü çabayı gösteriyor

Expenditures for innovations and foreign direct investments in Bulgaria - regional aspects, features and trends

The study examines the costs of innovation and foreign direct investment by district (NUTS 3), Planning regions (NUTS 2) and Regions (NUTS 1), according to the classification of territorial units for statistical purposes. The main trends in their development are outlined. The authors believe that foreign direct investment is closely linked to the cost of innovation. Of particular importance is the view that the intensity of R&amp;D expenditure by statistical regions and districts almost coincides with foreign direct investment. The results of the analysis confirm the strong disproportion in recent years in the distribution of direct investment and R&amp;D expenditures, which leads to the formation of a highly developed center - Sofia district (capital) and weak periphery - all other districts.</jats:p

Expenditures for innovations and foreign direct investments in Bulgaria - regional aspects, features and trends

The study examines the costs of innovation and foreign direct investment by district (NUTS 3), Planning regions (NUTS 2) and Regions (NUTS 1), according to the classification of territorial units for statistical purposes. The main trends in their development are outlined. The authors believe that foreign direct investment is closely linked to the cost of innovation. Of particular importance is the view that the intensity of R&D expenditure by statistical regions and districts almost coincides with foreign direct investment. The results of the analysis confirm the strong disproportion in recent years in the distribution of direct investment and R&D expenditures, which leads to the formation of a highly developed center - Sofia district (capital) and weak periphery - all other districts

TRENDS IN THE DEVELOPMENT OF PROFITABILITY AND RISK PROFILE OF THE BANKING SECTOR IN OUR COUNTRY

В статията се разглежда влиянието на финансовата криза върху доходността и рисковия профил на банковия сектор у нас. Този проблем се изследва на две равнища – на макроикономическо ниво (банкова система като цяло) и на микроикономическо ниво (конкретни банки). Извежда се показател за комплексно обвързване на печалбата и риска (рисковопретеглена рентабилност), проследява се неговата динамика и се очертават факторите, които му оказват влияние. This paper discusses the impact of the financial crisis on the profitability and risk profile of the banking sector in our country. The problem is studied at two levels – at a macroeconomic level (the banking system as a whole) and at a microeconomic level (particular banks). An indicator is derived for a complex binding of profit and risk (riskweighted profitability), its dynamics is traced and the factors that influence it are outlined