Strategic guidelines for the development of the economy in the conditions of global challenges and military aggression (Ukrainian case)

Abstract

The russian military aggression in 2014, the occupation of Crimea and the loss of powerful industrial facilities in the East of Ukraine caused crisis phenomena in the Ukrainian economy. In 2022, a full-scale invasion of Russian troops caused significant losses, destruction, sowed death and destruction in society. Against this background, the issue of determining possible mechanisms for exiting the crisis, analysis of the Ukrainian experience, and opportunities for stabilization and improvement of the general development is relevant. The purpose of the article is to determine the strategic guidelines for the development of the Ukrainian economy in the conditions of global challenges and military aggression. The article uses general scientific research methods (analysis, synthesis, induction, and deduction), as well as content analysis, prognostic method, synergistic approach and empirical material of legislative acts. The results determined that the main features of economic development since the beginning of the Russian invasion in 2014, it is characterized the possible strategies for the exit of the Ukrainian economy from the crisis situation of the post-war state. The results determined the consequences of the beginning of russian military aggression against Ukraine in 2014, in particular, the fall in GDP per capita, the freezing of the development of entrepreneurial activity. It was summed up that COVID-19 was affected by the global recession, which also did not bypass the Ukrainian economy. Instead, Russian aggression in 2022 reduced Ukraine's GDP by 30%. It was emphasized that under such conditions, the necessary solutions may be to strengthen state control through the distribution of funding (in particular, international assistance), legislative regulation, and political and criminal liability of unscrupulous managers. The conclusions emphasize that the strategic guidelines for the development of the Ukrainian economy in the face of global challenges are: efficient use of resources and renewal of production capacities, restoration of pre-war GDP, updating the economic structure, bringing the processing industry indicators to 50% (as of 2030), increasing Ukrainian-made goods in the public procurement sector, increasing foreign direct investment.