The social and economic conditions of all market participants are incentives and constraining factors influencing the levels of food, social, economic and ecologic security. The purpose of the article lies in the presentation of the author’s concept of the social and economic conditions where the transformation of economic relations between agrofood market participants is happening—in particular, the livestock products market of Ukraine—and the assessment of the state of food security of the country, as well as a comparison, by the same criteria, of the conditions of agrofood market participants in Ukraine and in four European countries: Germany, France, Italy, and Poland. This research was based on the application of empirical knowledge methods: observation, comparison, description, measurement, statistic methods, etc. So far, the participant functioning conditions in the agricultural market in Ukraine are unfavorable for the sustainable development of agriculture, especially the livestock industry. The debt burden of external creditors is growing, the amount of direct investments from the countries of the world decreases, and the growth of capital investment in terms of calculation per one employee is slowing down. The food security of Ukraine is unstable. The “market” itself is not capable of remedying all the negative phenomena. Therefore, it is necessary to apply the weighted power of the state.

Analysis of the financial risks of the ukrainian railway transport Section: Problems of economy of industrial enterprises and manufacturing complexes Ekon. promisl. 2017, 80(4): 47-62 Language: English Abstract | Full text (PDF) DOI:Abstract: The object of the paper is the financial risks of the railway transport. Today the financial situation of Ukraine's railway transport tends to deteriorate due to the systemic crisis of the national economy, the severance of existing economic ties, the critical wear and tear on non-negotiable assets, as well as an ineffective financial management. This led to the complexities of the formation of sufficient financial resources, the growth of financial risks and, as a result, the reduction of the international ratings. It is shown that little attention is paid to the risks, arising in the course of operating activities in the JSC 'Ukrzaliznytsia'. The paper analyzes financial risks of Ukrainian railway transport (financing of operating activities, liquidity, interest, credit and currency). The analysis showed that the industry is facing problems related to the financing of operating activities, providing the necessary level of liquidity and, consequently, the cost of the resources involved. This leads to a decrease in the ability of Ukrzaliznytsia to carry out the operational activities, reduce its effectiveness and, as a result, further deterioration of the financial condition. In order to improve the financial situation and reduce the financial risks of railway enterprises, the directions of their reduction are offered: optimization of the structure of financial resources by reducing the share of borrowed funds, limiting the amount of high-risk financial transactions, limiting the volume of current assets in the form of low liquid and illiquid assets, rationalizing the policy of managing financial instruments, implementation of scientifically sound financial management system. The strategy and tactics for managing financial risks of the railway enterprises should be based on the balance between expected benefits and possible risks.

The deepening of integration processes between the countries of Europe and Asia, the need for regular and mass passenger and freight traffic contributes to the increasing importance of transport systems. In this context, railway infrastructure, which ensures the uninterrupted operation of industrial complexes in many countries of the world and contributes to the development of international cooperation, acquires particular importance. This is also true for the railway transport of Ukraine, which is a connecting element between the transport systems of the EU, Russia and Asian countries. The paper substantiates that the sustainable functioning of railway transport is one of the necessary conditions for the development of national economies. The system of external and internal determinants of railway transport sustainability is highlighted. These determinants are analyzed on the example of railway transport in Ukraine. It is shown that external determinants form the basis of the functioning of railway companies, which also affects their internal determinants. Management of railway transport sustainability should be comprehensive, which will allow developing an effective set of preventive measures.

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