FINANCIAL REGULATION MECHANISM THE UKRAINIAN ECONOMY UNDER MARTIAL LAW: A REVIEW OF POLICIES AND INSTRUMENTS

Анотація

The aim of the research is to review and evaluate the prerequisites and needs for transforming the mechanisms of financial regulation in the Ukrainian economy in the conditions of war and post-war recovery. The losses of the economy and specific industries during wartime were analyzed based on open data. A review of legislation regarding innovative fiscal regulation introduced during the period of war to ensure national security, support the livelihoods of the state, businesses, and the population was conducted. It was argued that the accumulation of financial resources is necessary based on principles of systematics and balance, with prioritization of sources and distribution of resources based on the importance of funding directions for ensuring national security, payment of government debt, support of vital economic sectors, and provision of social guarantees. Priorities for post-war reconstruction funding were concentrated in supporting the financial market and economically significant sectors, which are the foundation of national security, particularly the agricultural sector. The role of international financial institutions and their participation in funding Ukraine's reconstruction in the form of grants, aid from charitable funds, and provision of financial assets in the short and medium term were analyzed. It was determined that a higher level of harmonization between national and global concepts of financial mechanism development is necessary. It is envisioned that in the field of financial regulation, priority tasks should be outlined in correlation with Ukraine's recovery strategy by segments and industries, as well as expected volumes and results of financial support for the economy in a strategic perspective. The configuration of financial regulation mechanisms in the Ukrainian economy in the conditions of war and their probable post-war transformation was outlined.

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