THE IMPACT OF THE COVID-19 PANDEMIC ON THE ECONOMY OF UKRAINE

Анотація

The world economy continues to recover from the Covid-19 pandemic, with rapid growth expected in most countries. In this regard, the purpose of this article is to analyze changes in the economy of Ukraine and assess the impact of the pandemic on national trends. Many scientists have studied the development of macro- and microeconomic systems in times of crisis, but the impact of global crises, including the COVID-19 pandemic, remains unexplored, which is what our novelty is all about. To assess the impact of the pandemic on the economy of Ukraine, the dynamics of GDP was analyzed as a result of productive activities of people in the field of tangible and intangible production of the balance of payments, which still remains negative, the consolidated budget of Ukraine and economic efficiency of certain sectors. The current state of Ukraine’s economy should be understood as a growing crisis, which is characterized by the imposition of various types of crises, both regular and occasional. In addition to the military clashes in eastern Ukraine, political instability, inflation, a number of debts to international organizations, the situation with the health care system and even greater mortality has become more complicated. The COVID-19 pandemic has exacerbated the current state of the economy. The peculiarity of the crisis is that it has not only had a multifaceted impact at the level of sectors of the economy, when some of them have gained some benefits (IT sector, health care, food sector), but also among the affected sectors. The crisis has led to significant long-term changes, especially in the structure and formats of consumption. Accordingly, companies that were able to quickly adapt to new realities gained an advantage over competitors and were able to expand their markets. The analysis shows that the pandemic cannot be considered only from the standpoint of negative impact on the economy of Ukraine. The crisis is a new opportunity for Ukraine, the realization of which is possible through state regulation of economic activity, protection of Ukrainian goods and services from import alternatives, development of international cooperation and trade, attracting investors and introducing innovations in all possible sectors of the economy; job creation in order to provide the country’s population with jobs.

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