FINANCIAL PLANE FOR THE PUBLIC ADMINISTRATION OF THE EU AGRO SECTOR

Abstract

Agriculture is vitally important for the surviving and successful functioning of the whole humanity and every single human being. Approximately 42% of the world’s population depends on agriculture for its livelihood. Agriculture is an important sector for the European economy as it provides livelihoods for 10.5 million farms across the EU and 44 million jobs in the entire agrifood sector. The Common Agricultural Policy (CAP) of the European Union (EU) is one of the world’s largest agricultural policies and the EU’s longest-prevailing one. The purpose of the research. Taking into account the vital importance of agriculture and the changeability of the EU payments to the agro producers, the following goals have been set while writing the presented article – to research the financial plane for the public administration of the EU agro sector and to assess its effectiveness through the analysis of the EU27 agricultural output in terms of its dynamics, differences if compared to the previous periods, trend line and projection made for the following two years. Methodology. To achieve the aims of the research, different methods, tools and techniques of the scientific research have been used, including the empirical analysis, the univariate analysis, the comparative analysis, the method of trends as well as data visualization tools like bar charts to make the data analysis more demonstrative and easy to make conclusions on. The data analysed are the value of the EU27 agricultural output at basic price in mln EUR. The time frame under analysis is ten years – from 2012 to 2021 included. Scientific novelty. The scientific novelty of the conducted research presented in the given paper lies in attempt to assess the public administration of the EU agricultural sector effectiveness through the analysis for the EU27 agro output in terms of its dynamics, differences if compared to the previous periods, trend line and projection made for the following two years. Conclusions. Starting from the year 2017 the EU27 agro output dynamics has an upward direction, with the only exception in 2020 as the probable impact of the Covid-19 pandemic, testifying to the right change of the EU agro sector public administration, having had positive consequences on the EU27 agro output value with the positive perspectives under the conditions unchanged. The research presented in the article and its results could be interesting and useful for the public administrators of all the levels, policy and decision makers, company employees engaged into agriculture and international trade, academic community representatives as well as beginners and experienced data analysts.