Sustainability of the National Economy in the Conditions of Modern Transformations

Abstract

The article examines the stability of the national economy of Ukraine in the conditions of modern transformations. The relevance of the topic is due to the increase in macroeconomic volatility, inflationary pressure, limited financial resources and the influence of martial law. The stability of the national economy is considered as an integral property of the economic system. The state of national economic stability reflects the ability of the economy to ensure macroeconomic balance, adaptation to shocks and recovery after crisis periods. The aim of the study is to generalize theoretical approaches to the interpretation of economic stability and assess the current state of the stability of the national economy of Ukraine. The main directions of its strengthening in the conditions of transformation processes are also identified. The work uses systemic, structural and comparative approaches. Macroeconomic, financial, investment, real sector and foreign economic indicators are analyzed. The results of the study showed that the economy of Ukraine is characterized by a high level of volatility and unstable development dynamics. The greatest destabilizing impact is exerted by military actions, pandemic shocks and structural imbalances of the economy. At the same time, the adaptive potential of the national economic system has been determined, which is manifested in the restoration of positive dynamics of macroeconomic indicators after crisis periods. The growth of the fiscal burden on the economy and the strengthening of the State’s debt dependence have been confirmed. This creates risks for long-term macroeconomic stability and increases the vulnerability of the financial system. The need to strengthen the institutional capacity of the State, increase the efficiency of budgetary policy and the development of the real sector of the economy has been proved. Prospects for further research are related to the development of integrated approaches to assessing economic stability and the formation of efficient mechanisms for increasing the resilience of the national economy. It is advisable to pay special attention to the study of structural imbalances and long-term factors of economic growth.