СТАБІЛІЗАЦІЯ ЕКОНОМІКИ КРАЇНИ В УМОВАХ КРИЗИ

Abstract

Ukraine is currently facing difficult economic conditions caused by Russia's military expansion. At the same time, despite the negative consequences caused by the Russian aggression, the country's economy is showing positive dynamics towards structural changes. In such circumstances, it is important to analyse the methodology for stabilising the country's economy and to find effective forms of attracting international financial assistance, which is a significant factor of supporting the country in times of crisis. The article examines the issues of stabilisation of the country's economy in the context of the crisis. The article analyses forms and methods of stabilisation of the country's economy in crisis conditions. An empirical study of financial measures at the macro and micro levels that had a positive effect on the recovery of the economic situation in the country has been carried out. It is established that under the conditions of martial law, the country's economy has begun to gradually recover since the beginning of 2023. Despite the low production volumes, the overall financial performance is tending to improve. The expected growth in economic forecasts is explained by the fact that Ukraine's energy sector has withstood the air attacks of the aggressor country. Due to this, the economic performance of enterprises, primarily in the retail and service sectors, has improved. The improvement of households' expectations and the growth of state budget expenditures, thanks to international assistance, will support consumer demand. However, the destruction of production facilities and infrastructure, including energy infrastructure, will continue to limit economic activity, and its recovery will require significant resources. It is specified that inflation is decreasing faster than expected, which is facilitated by an adequate supply of food and fuel, a lower electricity shortage, and a favourable situation on the foreign exchange market. An analysis of the activity of other countries in providing assistance to Ukraine made it possible to note that international aid covers the balance of payments gap and helps to build up financial reserves. It has been found that, in general, the National Bank of Ukraine forms positive theses on improving the economic situation in the country for future periods. In conclusion, the main source of financing of the country's budget is international aid and a minor percentage of its own GDP. Due to the stable inflow of international aid, the economy's liquidity has improved. The created liquidity buffer creates the conditions for increasing internal expenditures and paying expenses and fulfilling external obligations in a timely manner.