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1.
Financial and Credit Activity-Problems of Theory and Practice ; 5(46):249-257, 2022.
Article in English | Web of Science | ID: covidwho-2207217

ABSTRACT

The current state of Ukraine's economic security in connection with Russian aggression requires a detailed analysis and research, primarily for several reasons: a more detailed understanding of the socio-economic processes taking place in the middle of the state, and the identification of losses and risks for the global economy of the world. The purpose of the article is to analyze the prospects for stable economic development and economic security in the state under modern Ukrainian realities. In the results, the main threats and challenges that threaten economic security and hypothetical ways of overcoming them are analyzed first of all. In particular, the causes of the negative state of the Ukrainian economic system were established and investigated. We are talking about a long economic crisis, caused both by the military destruction carried out by the Russian regime and by the decrease in business activity due to the COVID-19 pandemic. Important factors were the uncontrolled growth of the budget deficit, which as a result of military actions crossed a critical line, opacity and corruption schemes in the economy, which led to significant financial frauds, illogicality and inconsistency of government reforms. Current threats remain the outdated technical and material production bases of the leading branches of the economy, an imperfect legislative framework that needs significant updating, the fragmentation, and imperfection of Ukraine's laws, environmental problems caused by the war, a complex demographic situation in the country, brain drain, etc. The conclusions concluded that the important ways to stabilize the difficult situation are the emphasis on the continuation of export and production of agricultural products, the well-founded importance of military orders for the heavy industry of Ukraine, and attention drawn to the need for reforming and improving legislative and current program documents that regulate economic and financial activities (in particular, the Law of Ukraine "On the Fundamentals of Financial Security", "Economic Security Strategies of Ukraine for the period up to 2025", etc.).

2.
Financial and Credit Activity-Problems of Theory and Practice ; 1(42):529-536, 2022.
Article in English | Web of Science | ID: covidwho-1812754

ABSTRACT

The purpose of this article is to provide a thorough examines the strategic management of economic security of the state and development of strategic management of the state's economic security in the context of the COVID-19 pandemic. It is noted that in the process of assessing the scale of current problems there is a need for a detailed study of the content, types, factors, and ways of spreading threats / threats to socioeconomic security of Ukraine, which have long accumulated in the economic sphere. It is determined that the release of citizens from the branches of the national economy, suspended due to quarantine;reduction of household incomes and rising prices for goods that have no substitutes;reduction of aggregate supply and demand in case of loss of markets;increase in receivables of enterprises and the general deterioration of their financial condition. All countries, markets, businesses, firms and other economic institutions have somehow coped with the effects of the pandemic. This is easily explained by the relatively rapid integration into the world economy through international trade, financial flows and labor migration. Another factor of economic instability was the rapid expansion of services. Despite the growing importance for society and employment, services are most at risk of a pandemic. Sectors of the economy that were under strong pressure under the influence of the coronavirus crisis are highlighted. The macrofinancial indicators of Ukraine for 2018-2020 are analyzed. Thus, there is a stable growth of GDP (in actual prices) throughout the study period, which indicates an increase in domestic production capacity. In 2019, this figure increased by 111.7% compared to 2018, and in 2020 this figure showed an increase of 105.5%. The total amount of public and state-guaranteed debt will increase during 2018-2020. In 2019, the debt increased by UAH 6.05 billion, and in 2020 this figure increased by UAH 5.88 billion. But the ratio of public debt to GDP fluctuates. In 2018, this figure was 60.9%, in 2019 - 50.3%, and in 2020 - 60.8%. The recession could be particularly damaging for countries with the greatest potential for unrest and conflict. The authors developed a strategy for managing the country's economic security has been developed.

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