Economic security in Ukraine
A theoretical analysis of the essence of “economic security” is presented and the main essence of this issue is revealed. The importance of economic security for society, the state, international security and what problems the state faces on the way to economic security are determined. The state of economic security in Ukraine at the present time.
Economic security is one of the main elements of the country’s national security. Economic security involves ensuring the stability of the country’s economic development, protection from external and internal threats, ensuring the proper standard of living of citizens and creating favorable conditions for the development of entrepreneurial activity.
However, depending on a country’s geopolitical location, its economic security may be threatened by a variety of factors, such as international sanctions, economic dependence on other countries, internal instability, and corruption. That is, the effectiveness of the economic system largely depends on how stable its security is [5].
In recent years, Ukraine has seen a drop in real GDP, a steady decline in the population, and a significant decline in the standard of living of broad segments of the population. These and other internal indicators indicate that there are problems and reasons for their existence in Ukraine today. Such a situation requires efforts aimed at identifying and highlighting the main threats to Ukraine’s economic security and determining ways to minimize them.
A key aspect of ensuring the well-being of society and the state is the system of national economic security. In the conditions of constant changes in the external and internal environment of the state, a necessary condition is the search for new ways of adapting society to these conditions and achieving the highest possible level of state security [1,4].
Over time, the concept of financial security has gained a wider meaning and is now understood as the financial security of a business, i.e., a state in which stable and efficient functioning of a business and its high potential in the future are ensured by counteracting the negative impact of external and internal threats and risks. Financial security is a state of security in the economic sense of the term. Security in the economic sense implies sustainable development, which is achieved due to the efficient use of all resources.
Considering the current economic state of the country, it should be noted that the main problem for ensuring financial security is the issue of identification and assessment of the level of threats in the financial sector. Threats to Ukraine’s financial security are situations and factors that endanger the country’s vital economic interests, complicate self-regulation of the financial system, and lead to financial indicators exceeding permissible values.
At the same time, in addition to such threats as a high level of the shadow economy, corruption, extortion, offshorization and shadow companies, special attention should be paid to the fact that the main threat to the economic security of Ukraine at this stage is the Russian-Ukrainian war. Therefore, the task of the state in terms of ensuring the necessary level of financial and economic security is to monitor and identify threats, measure the level of threats and implement appropriate measures to prevent or eliminate threats and the negative consequences of their influence.
And today it is extremely necessary to take into account that with the increase in the scale and duration of offensive military actions, the threat to the country’s economic security is also increasing. It is clear that the country suffers significant losses in the form of human casualties, material and economic losses, environmental destruction and the threat of ecological disasters, and therefore, the main condition for maintaining the country’s economic security is currently ensuring the country’s military security. The Ukrainian economy, like its financial system, is currently at the stage of transformation and adaptation to the conditions of war.
Moreover, in the context of Russia’s military offensive against Ukraine, the issue of national security is more important and open than ever. Ensuring national security is the basis for protecting national identity in general and the Ukrainian people in particular [1,3].
Undoubtedly, one of the main elements of national security is the socio-economic element - economic security. Economic security is the basis of the country’s economic development, as well as its social development. Moreover, in the conditions of large-scale military operations on the territory of Ukraine, the military-political role of Ukraine in the formation of the pan-European security system has acquired a new significance.
Economic security is a multi-structural concept that characterizes the security of socio-economic systems at different levels of the hierarchy, including the world economy, national economies, industries and sectors of national economies, as well as commercial and non-commercial organizational structures [1].
So, over the past few years, Ukraine has taken important steps in the direction of ensuring its economic security. In particular, legislative acts were adopted that contribute to the attraction of foreign investments, the development of exports and the reduction of dependence on imports.
Also, the government of Ukraine implemented a number of reforms aimed at improving the business climate and reducing corruption, which contributed to increasing the country’s investment potential.
However, challenges related to economic security still exist in Ukraine, such as low living standards, high unemployment and underdevelopment of certain sectors of the economy [2].
References
- Economic security of the state in the current conditions of functioning [Electronic resource] - Access to the resource: http://confmanagement.kpi.ua/proc/article/view/271921.
- T. V. Petreman, K. V. Dubych. Economic security of Ukraine: public administration
- Harkava V.F. Economic security of the regions of Ukraine. Economy of Ukraine, 2022. No. 2. P. 37-49.
- Economic security of the state / Zhivko Z.B., Cherevko O.V., Kopytko M.I. etc.
- Economic security [Electronic resource] – Resource access mode: https://esu.com.ua/article-18765.