Problems of assessing the balance of economic systems

Abstract

Subject. The article investigates a model of the balance of the national economic system. Objectives. The study aims at identifying the main characteristics of the balance of economic systems to create a methodology for assessing the balance of the national economic system, and factors affecting it. Methods. We employed general scientific methods of cognition. The systems approach and logical generalization enabled to develop priority areas of the proposed methodology. We also applied methods of statistical analysis of economic data, economic-mathematical methods. Results. We proposed our own methodology for distribution of economic activities by type of subsystems, based on the proposed by G.B. Kleiner model, in two versions, i.e. excluding and including exports and imports. We also offered recommendations and strategies for improving the balance of the economy, which contribute to increasing its competitiveness and sustainability in the face of modern challenges and changes in the world arena. Our model enables to assess the impact of external factors, like global economic trends, changes in the world trade and crisis situations, on the economic stability of a country and development of its industries. Conclusions. The analysis of changes in the balance index in the context of foreign trade and industries helps assess the dynamics of balance and identify factors, including the impact of the coronavirus pandemic, that may affect the economic stability and development of the country.