Economic security strategy of Ukraine in the context of global transformations

Постановка проблеми. Внаслідок прояву глобалізаційних та інтеграційних процесів у світі відбувається посилення і поява нових загроз економічній безпеці України, оскільки вплив глобалізації на економіку держав має неоднозначний характер і виявляється як у позитивних, так і негативних рисах. Крім цього епідемія COVID-19 стала, мабуть, найбільш серйозним, глобальним викликом для людства за останні десятиліття, наслідки якої призведуть до суттєвих змін в економічній і соціальній сферах, що визначатиме розвиток суспільства у найближчі роки. Зважаючи на рівень значущосты нових викликів і небезпек, особливої актуальності набувають питання дослідження та виокремлення загроз, що найбільше впливають на економічну систему держави, а також обґрунтування основних заходів протидії цьому впливу.

Аналіз останніх досліджень і публікацій показав, що теоретичні та практичні аспекти забезпечення економічної безпеки широко розглядаються вітчизняними та зарубіжними вченими, проте залишаються відкритими питання щодо появи загроз економічній безпеці України, які спричинені глобалізаційними процесами у світі.

Метою статті є дослідження впливу сучасних глобальних трансформацій на економічну безпеку держави з аналізом відповідних викликів і загроз у контексті забезпечення наукового підґрунтя для зміни державної політики у сфері економічної безпеки.

Матеріали та методи. У процесі дослідження використано методи статистичного аналізу, синтезу, групування, табличного та графічного зображення результатів.

Результати дослідження. Розглянуто теоретичні та концептуальні підходи до визначення сутності економічної безпеки. Охарактеризовано глобальні економічні трансформації у контексті впливу на економічну безпеку держави. Проаналізовано індикатори всіх складових економічної безпеки шляхом їх зіставлення в динаміці з критичним рівнем та надано пропозиції щодо впровадження заходів економічної політики, спрямованих на протидію викликам та загрозам економічній безпеці України.

Висновки. Ефективність підтримання економічної безпеки держави в умовах глобалізації визначається: здатністю національної економіки забезпечувати економічний суверенітет країни та лідируюче положення в глобальному світі, а також адаптуватися до мінливих зовнішніх умов; наявністю достовірної системи оцінок економічної безпеки; спроможністю державних інститутів ефективно протидіяти виникаючим глобальним економічним загрозам, у т.ч. через підвищення ефективності управління.

В Україні майже відсутнє підґрунтя для забезпечення національних економічних інтересів, а вплив глобальної пандемії COV1D-19 лише поглибив внутрішні загрози економічній безпеці держави, серед яких погіршення стану державних фінансів, накопичення заборгованості держустанов, зростання обсягів неплатежів та погіршення стану інфраструктури тощо. Це, а також незадовільний стан більшості індикаторів економічної безпеки вимагають удосконалення системи державного регулювання у сфері забезпечення економічної безпеки, у зв 'язку з чим окреслено основні напрями протидії викликам та загрозам національній безпеці.

Ключові слова: економічна безпека держави, глобалізація, глобальні трансформації, національна економіка.

Background

Globalization is an evolutionary trend in society's development. Its impact on the economies of states is ambiguous and manifests itself in both positive and negative terms. On the one hand, globalization contributes to provide all subjects of world economic relations with equal market conditions and increases their chances of effective economic development by applying all the advantages of free movement of capital and productive forces. On the other hand, the differentiation of incomes of the population is growing, which provokes an aggravation of social conflicts, thereby weakening domestic and external protective potentials of economic security. Economic society and commodity security problems are aggravating and becoming global.

In addition, the COVID-19 pandemic has become perhaps the most serious, global challenge for humanity in recent decades. Its consequences will lead to significant changes in the economic and social spheres, which will largely determine the development of society in the near future. Among the significant challenges of the global corona crisis is the sharp increase in credit risks, which can provoke a full-scale debt crisis, as well as a significant budget deficit in developing countries, which will lead to an increase in their external debt dependence.

Without a strong and effective economy, it is impossible to properly ensure the level of national competitiveness, scientific and technical development, reliable defense capability, military and political stability of the country, effective social policy, harmony in the moral and spiritual life of society, information protection and the key to a safe environmental condition. Consequently, effective economic security (ES) of the state is the guarantor of its sovereignty, independence and territorial integrity. However, there is still ambivalence of scientific approaches to the formation of the theoretical and methodological basis for ES provision.

As a result of the globalization and integration processes in the world, new threats to the ES of Ukraine are increasing and emerging. Crisis phenomena in the country, along with political and economic instability, have led both to the strengthening of the negative impact of internal and external threats and to the creation of new ones. Therefore, given the level of importance of new challenges and dangers, the research and identification of threats are appeared and had the greatest impact on the national economic system, as well as the justification of the main counter - measures to this impact is emerged.

Analysis of recent research and publications

Theoretical, methodological and practical issues of ES are revealed in the works of A. Grinenko and A. Novikova [1; 2]. The sectoral aspect of economic security has been studied by A. Denisov [3], the processes of formation and provision of international ES are revealed in A. Gapeeva [4], and social aspects of economic security are investigated by T. Tokarsky [5].

As the analysis of theoretical research has shown, the problems of ES are also widely represented in the works of modern foreign scientists. In particular, we can note the article of I. Kremer-Matishkevich and J. Chernius [6], in which the theoretical foundations of ES are thoroughly investigated. Financial and energy aspects of economic security are given in the works of M. Popescu [7], P. Partasarati and other scientists studying its social components - the level of income and health of the population [8]. Also noteworthy is the work of S. Tanga, which proposes a rethinking of the country's ES due to the strengthening of globalization processes [9].

At the same time, the issue of threats to Ukrainian economic security caused by globalization processes in the world is becoming more urgent. Features of the transformation of the global system require constant monitoring of trends in the economic sphere, identification of the main risks and threats of ES, formulation of state measures which are directed to minimize and eliminate negative impact.

The aim of the article is to study the modern global impact transformations on the national economic security with the analysis of relevant challenges and threats in the context of providing a scientific basis for changing state policy in the field of economic security.

Materials and methods

The theoretical and methodological basis for writing the article composed the modern scientific concepts and theoretical developments on ES and security policy, the results of analytical studies of international organizations, statistical data of the State Statistics Service of Ukraine and the National Bank of Ukraine. Achieving the goals of the study and implementing the tasks involved the use of statistical analysis methods, synthesis, grouping, as well as tabular and graphical representation of the results.

Results

Theoretical foundations of economic security.

In accordance with the Law of Ukraine "On National Security of Ukraine", National Security of Ukraine is the protection of state sovereignty, territorial integrity, democratic constitutional order and other national interests of Ukraine from real and potential threats [10].

The ES of the state plays a leading role in the national security system. It significantly affects the economic sovereignty of the state, its financial stability, economic development, the implementation of effective social policy, the provision of society from environmental elements, the growth of nation- nal competitiveness in conditions of international economic interdepend- dence. The effective functioning of the ES system of the state allows timely identification of threats to national economic interests and prevention of damage to the socio-economic system as a whole. It is especially important to improve the economic security system for those countries that are in a transformational crisis with an aggravation of its inherent contradictions [11].

Currently, many approaches have been published in the scientific literature to determine security and other basic concepts related to the problems of this area: security, economic security, threat, risk, interest, damage, source of threat, subject of threat and object of threat. Specialists do not have unity in the interpretation of the concepts of "economic security" and "risk". Accordingly, the content of economic security and risk management activities (prevention, minimization, etc.) is understood differently. This problem is aggravated by the fact that the basic concepts of security - threat and risk - do not have sufficient normative certainty. At the same time, a clear alternative system of views can also be built in the modern sense of the term "economic security". For adequate forecasting and risk management, it is necessary to consider society as a large complex organizational system with a networkcentric, fractal structure and mechanisms of self-organization. Thus, for comprehensive risk analysis and strategic planning of national and public interests, the United States has created a strategic management environment that combines 50 states and 3 100 SPAS districts into a single set of federal-level strategies. There is a system of global information monitoring, monitoring of technology and market development, financial flows. 35 000 of the most successful innovative companies are constantly monitored. As part of deoff- shorization, a system of automatic information exchange on financial flows is being formed, which provides additional advantage to the countries with advanced intellectual processing of information flows. The EU has a world research center - the World Economic Forum (WEF) in Davos, which has 400 employees and attracts hundreds of external experts to conduct research on the future of mankind.

Summarizing the theoretical developments of national and foreign scientists, it is possible to distinguish individual and macroeconomic approaches to the study of ES (Figure 1).

Figure 1 Theoretical and methodological approaches to the interpretation of the term "economic security"

Source: summarized by the authors according to [12]

An individual approach (Figure1) to the interpretation defines human ES as the presence of a stable income and other sources to maintain a standard of living in the present and near future, that is constant solvency, estimated cash flow, effective use of human capital.

The formation of a macroeconomic approach has a complex history, as the period of its development coincides with the times of two world wars. In particular, the formation of such approach is supported by the Russian economic school, which tried to quantify ES using critical (threshold) values. This approach includes a model developed by Professor Lino Briguglio, who evaluates ESs taking into account the economic vulnerability and level of the country's sustainability.

The economic security of a household or individual is the object of research at the microlevel, in particular, the human ES is investigated by P. Partasarati (2014), J. Hacker and others. (2014), N. Hsi (2015), J. Maruti and D. Lewis (2016), focusing on the importance of savings and threats to the life quality of adults and the elderly [8; 13-15]. These scientists give a general definition of economic security: ensuring personal financial resources, social integration, health safety strategy, guaranteeing dignity and quality of life.

Studying household behavior, S. Mueller (2015) and I. Nam (2016) also emphasize that long-term economic security and family development depend to a large extent on savings and wealth accumulation. These scientists describe ES as a measure of individual or home ability [16; 17].

L. Maurice and L. Deprez (2013) analyze the financial resources, quality of life and women competitiveness of working age in the labor market of the United States, so their understanding of ES is greatly simplified and focused on the individual ability to be independent. In their opinion, economic security is a financial situation where a person can live the way he wants [A1], not the way he lives [18]. J. Queen and K. Kyle (2016) analyzed the impact of various measures of economic vulnerability on the overall situation of the individual economic security [19]. Thus, their definition of ES is similar to those already mentioned, that is, the availability of financial opportunities, solvency, social well-being and resistance to external threats.

The economic security of companies is analyzed at the microlevel. ES business structures are studied by G. Misko and A. Maluta (2015), N. Kasyanova and A. Kasyanov (2015), M. Baldzhi (2017). According to these scientists, EM is a condition where resources are effectively used to prevent threats and ensure the functioning and stable development of the company. They characterize ES as a combination of qualitative and quantitative indicators [20-22]. To achieve the highest level of ES, companies must ensure maximum safety of the main functional components. Researchers analyzing ES companies distinguish the following elements: finance, human resources, technology and innovation, political and legal environment, environmental ecology and information security.

Considering ES at the macrolevel, we can make assumptions about the economic security of the country.

Research by domestic and Russian scientists uses models for assessing the ES of the country or region on the basis of critical boundaries. In particular, K. Tokarev (2008) describes methods for determining the economic security of the state and identifies its three main indicators: economic, describing the level of development of the country's economy; social, determining the level of social development of the state; financial, assessing the policy of budgetary, credit and tax budgeting of the country [23]. Н. Blinich- kina (2015) describes the conditions for economic security, proposes to calculate ES indices using the determinant system [24]. These scientists describe ES as the formation of economic sustainability using available resources. They also complement this definition by introducing ES as a prerequisite for the development of the national economy. C. Dadalko et al. (2017) argue that ES is one of the key functions of state regulation. Ensuring economic security leads to the implementation of other functions [25]. According to these researchers, EB support is especially necessary in times of crisis, as the number of risks and threats increases, and mechanisms to prevent them during the crisis lose efficiency.

Summarizing the ES study, several definitions can be given depending on the approach (Table 1).

Table 1

Approaches to the economic security interpretation

Source: summarized by authors [23-25]

Sue Moon Tang in his study "Rethinking Economic Security in a Globalized World" (2015) proposes to consider the concept of ES in the context of the impact of globalization. In his opinion, ES should be understood not only as sufficient financial support for survival, but also as combating poverty and unemployment, dangers and threats, as preventing legal violations and corruption. This is not only an existential issue - economic security should become a priority in the development of general state security [9].

In Ukraine, the normatively enshrined concept of ES can be found in the methodological recommendations for calculating the level of ES of Ukraine approved back in 2013. According to them, economic security is a state of the national economy that allows you to maintain resistance to internal and external threats, ensure high competitiveness in the world economic environment and characterizes the ability of the national economy for sustainable and balanced growth [26].

The recently adopted Economic Security Strategy lacks a specific definition of ES. It is considered from the point of view of implementing the priorities of national interests [27], which, in turn, involve sustainable development of the national economy, equal mutually beneficial economic cooperation with other states and Ukraine's integration into the European economic space.

Summarizing, we can cite such a comprehensive definition of economic security - an instrument of economic regulation (regulation mechanism), which helps to use available resources, provides a sufficiently high and stable growth trend in economic indicators, fights poverty and unemployment, expands social security, prevents loss of competitiveness, effectively solves economic needs, responds in a timely manner, neutralizes threats, forms national security.

Based on the results of the analysis of foreign and domestic theoretical research on this issue [15; 19; 22; 28-31], the conceptual foundations of the economic security of the state (Figure 2) are formulated, which in turn can be the basis for the methodology for assessing its level.

Figure 2 Conceptual principles of national economic security

Source: built by the authors on the basis of [15; 19; 22; 28-31]

Threats to economic security are phenomena and processes that negatively affect the country's economy and infringe on the economic interests of the individual, society and the state. Constant monitoring and identify- cation of the main threats of ES contributes to its maintenance at the proper level, as well as allows for the timely development and implementation of practical measures aimed at their elimination or minimization of the impact of threats [32].

The National Economic Security Strategy of Ukraine until 2025 identifies priority areas at which state policy measures in the field of countering and minimizing threats are aimed [27]:

• the financial security;

• the occupational safety;

• the foreign economic security;

• the Investment and innovative security;

• the macroeconomic security.

Modern global transformations.

The current state of the domestic economy is characterized by instability, the presence of a large number of threats that cause significant risks, undermine the possibilities of implementing the goals of socio-economic development, strengthening the country's defense capacity, in general creating economic problems to ensure national security. Any modern economic system at the country level is an open system, includes many interrelations between economic entities, various state and public institutions, the change and functioning of which takes place dynamically and non-linearly. These processes are mainly used by the most economically developed countries and transnational corporations (TNCs) to achieve their economic and political goals - globalization and the ideology of open markets allow you to quickly capture market sectors in different countries, suppressing local producers.

The transformation of the world economic system changes the idea not only of the patterns of globalization, but also of the mechanism of functioning of the economy of each individual state. Now no one denies that globalization is a key process influenced by the economy and politics of each individual country. There is growing reason to argue that the degree of integration of the state into the global economy depends on the interest of the global economic system in its market space and economic resources.

On the other hand, this statement could be denied, since there are quite a large number of states in the world that actively resist the integration process. In particular, these include Iran, Iraq, Afghanistan, North Korea. Indeed, the economic life of these countries is largely based on the principles of autarky. However, there is another point of view. The national economic policies of these countries adhere to the principles of autarky not only because their political leadership has made such a decision or has a clear need for it. The fact is that the leading countries of the global economic space have built a certain system that these states are almost unable to violate on their own. All their international economic contacts should be coordinated with the leading countries through different institutions; this is very clearly monitored when any unauthorized actions cease, both on the part of these states and on the part of those who would like to expand economic relations with them.

Thus, the essence of globalization in its modern understanding is to dramatically expand and complicate the interrelations and interdependencies of different states. This is a new stage of economic development, a new quality of relations between countries and their economies. Globalization consists of many deep transformations which take place in different areas of human activity (not only in economic activity). From this point of view, globalization is a system of new rules (and even barriers) between different countries and their economies. And this does not contradict to general understanding that globalization leads to a reduction in barriers between different economies, the rice in world production of goods and services in order to expand trade and other international exchange processes which are integrated and supranationally regulated by the world economy. Therefore, the essence of globalization is also considered as an increase in the interdependence of economic agents to the extent that the action of each of them affects the interests of everyone else and at the same time affects processes and phenomena in other (non-economic) fields of society. This opens up great opportunities associated with the rapid expansion of goods, information flows and the emergence of a broader interaction between states, firms and people than before. Scientific and technological progress also plays an important role in the field of transport, telecommunications and information technology. As well as the educational improving level of people, it contributes to the convergence of all modern world components: distances are reduced, new opportunities for transportation and communication arise, transaction costs associated with trade and financial transactions are significantly reduced.

As the result, the most important contradiction of globalization was revealed: this process as expands relative freedom for states and their economic entities as compresses it, bringing the economic entities actions not as to economic benefits as to compliance with certain, even unwritten rules. It is in this direction that scientists around the world have been investigated the problem of globalization in recent years.

The state of the country's inclusion in the world economy, namely the degree of globalization of the country, shows the KOF Index of Globalization calculated by the Swiss Economic Institute, consisting of three subindexes: economic globalization, social globalization and political globalization (Table 2). The economic component of the Globalization Index assesses the volume of international trade, investment and income received relative to GDP, the impact of restrictions imposed by the country on commercial and financial flows [33].

Table 2

World country ranking o globalization (KOFGlobalisationIndex - 2020)

Source: [33]

As follows from Table 2, China took the last place in terms of the economic component of the KOF Index (as of 2018), while Switzerland and Germany belonged to the leading positions.

Without denying the positive impact of globalization, expressed in the effect of competition, to which it inevitably leads, in the emergence of common "rules of the game", in the development of collective security measures that offer great opportunities for the development of all countries and negative consequences can also be observed. They involve significant benefits from stronger and economically developed countries, which can become the basis for future conflicts - economic, political and even military - between individual countries and their communities. Therefore, globalization changes the national functions and capabilities as an element of the political and economic system and a participant in economic processes [34].

In the context of the world economy globalization, the external dangers of the country's ES increase significantly which are associated with adverse actions in the world economy. As V. Rococha notes, in existing ES systems built in the previous century, dysfunctions began to manifest themselves, as, on the one hand, traditional threats are modified, and on the other hand, new ones are generated by globalized environment [35]. Due to the discrepancy between the established systems of the national ES and threats, there is a need to form new models of national economic security that would be derived from traditional (modified) and specific (new) globalization threats. The effectiveness of solving this difficulty depends on the correct identification of the latest threats and, accordingly, the transformation of state ES models [35].

The establishment of an effective economic security mechanism also depends on the type of state. They are usually divided into three types: developed, which are in progress and outsiders. However, another approach that is more adequate to the conditions of the globalization economy is increasingly being taken: countries that consume and export resources.

The basis of security has not been limited for a long time to self-reliance and meeting national needs with its economic resources. The current understanding of ES is transformed into the state ability to build its country's relations as a subsystem of the global economy with the system itself in such a way as to ensure the fullest possible satisfaction of the economic entities needs. At the same time, as few own irreproducible resources as possible should be used, if possible "transferring" part of your tasks to partners or it is better to solve these problems together with partners. This partnership is of particular importance today.

Based on the peculiarities of the world economic development in the period of globalization and the tasks related to the complexity of the state functions, there are changes in the understanding of the ES. Therefore, today economic security should be understood as such a set of opportunities of the national economy, conditions for their implementation, institutions of state power and management tools, in which national interests are protected in the world and domestic economic space and the development of economic potential are ensured, as well as conditions for the transition to an innovative and at the same time socially oriented economy are created. This definition has a complex structure that can be represented on the basis of three components. The first is the ability of the national economy to ensure the economic sovereignty of the country and a leading position in the global world, as well as to adapt to changing external conditions. The second is the ability to maintain an assessment system that not only adequately identifies the level of EB of the national economy, but is also an indicator that identifies the areas in which it is necessary to ensure its further advancement. The third component is the ability and readiness of the state institutions to effectively counteract emerging global economic threats not only through the use of economic capabilities, but also by increasing the efficiency of governance and by creating an economic and legal environment that will ensure the growth of the potential and real possibilities of the national economic system.

The most important feature of globalization and its prerequisite is to increase the degree of the national and world economy openness, which leads to two opposite processes. Firstly, in many parts of the world, state borders have finally ceased to be the most important barrier between the flows of production factors, goods and money, becoming a place of cooperation, which allows to reduce production costs, optimize the production structure and range of products, simplify the capital attraction and, as a result, accelerate economic development. Secondly, the openness of borders allows to increase the demand for certain groups of goods and services, the production of which is more efficient in a country, which leads to uneven development of industries and increases dependence on the world market conditions, strengthens the role of external economic threats.

In general, the transformation of the global national security system takes place in the direction of increasing the role of "soft security" problems, which is based on such socio-economic subsystems as financial, environmental, poverty alleviation, etc. "Hard safety" issues are increasingly moving to the field of competition in the field of new technologies. In this regard, a special role is played by TNCs, which seek to align all promising segments of the economy and the economic policies of different countries with the interests of the unification of the global economic space, Ukraine is no exception. Obviously, we are dealing with a completely different form of economic danger. Therefore, it is necessary to develop other forms of monitoring and elimination/minimization of emerging hazards.

On the territory of host countries, TNCs, as a rule, absolutely independently determine specialization and thereby affect the trends in the development of the sectoral structure of the countries' economies, as well as the way and nature of their participation in the international labor division and the model implementation of labor division. This may have an impact on ES in the course of developing export-oriented raw materials industries, production of intermediate or finished standardized products, environmentally dirty or labor-intensive industries in host countries. The result of such activities is the formation of an extremely inefficient, non-competitive, morally outdated structure of the national economy and thus a decrease in the level of national economic security.

Another global transformation is the information economy. It creates other macro-proportions between its subsystems and poses new threats that affect the nature and level of economic security. In this regard, the following problems need to be solved:

* the formation of new patterns, mechanisms and development propor-tions of the main sectors and economic parameters in assessing development results;

• the creation of new and transformation of existing bodies regulating the economic system;

• the transformation of the role and functions of the Central Bank in regulating the monetary system, the money supply with the active dissemination of electronic money;

• the emergence of new integrated animation effects;

• the change of pricing principles and supply modification and demand functions for electronic services;

• the tax and customs regulation of electronic commerce;

• changing the conditions of optimality and sustainability of short- and long-term equilibrium of individual markets and macroeconomic equilibrium;

• the emergence of the latest principles and tools of competitive struggle.

The results of the analysis show that the ability to prevent new threats is due to the ability to quickly receive process, transmit, use information and produce new ones in a way that minimizes economic danger to economic entities and the state as a whole. Consequently, while in the past the success of a business activity depended largely on a combination of classical production factors, today it is determined by the use of a complex combination of capital, information and intellectual resources for rapid and qualitative economic growth and provision of ES as a guarantee of success, stability and development.

Along with the global considered transformations, the global COVID-19 pandemic has received a significant impact on the EC. It had a negative impact on all countries of the world without exception. The fall in world GDP in 2020 was recorded at 3.2%, in developed countries - 4.6 %, and in developing countries - 2.1 % [36]. In addition, IMF experts note that this crisis is unlike every other one with uncertain recovery prospects.

The corona virus pandemic has also affected to global political processes. The confrontation between the United States and China has intensified tensions between the United States and the EU, the European Union and Russia have increased. According to of O. Chaly: "The world has become multipolar. If there used to be a dispute, today neither in the United States nor in the EU no one denies it. Yes, the United States will continue to be the strongest state in the world, but the U.S. hegemony will no longer be in the world" [37]. In his opinion, in recent years Ukraine has moved away from any balance, subordinating its policy to purely strategic interests of the United States and the EU. "Of course, the United States is Ukraine's main strategic partner, but national interests should be based on relations with any partner in the post-corona virus world. COVID-19 has shown that international life should be based on national interests, not on values. Even EU member states have put their national interests at the forefront. In this context, Ukraine needs a new national security strategy and a new concept of foreign policy," - said O. Chaly [37].

Among the main threats to national security associated with the spread of COVID-19, experts highlight: insufficient level of health financing; limited access of the population to health services; restriction of human rights and freedoms, including the "right to health care"; an increase in the number of criminal violations of sanitary rules and legal norms for the prevention of infectious diseases; an increase in sales of counterfeit medical and sanitary and hygienic products, as well as personal protective equipment; an increase in cybercrime; an increase in cases of domestic violence; a low level of government management in the field of health care [38].

Accordingly, the economic sphere of national security is also negate- vely affected by the pandemic, which aggravates the crisis in the budgetary sphere (increasing budget deficit and debt burden), the volume of non-payments of both public institutions and the population are increasing, which ultimately leads to a drop in living standards and an increase in poverty. Taking into account these conditions, state measures aimed at supporting the economy and the population become even more necessary. How this is carried out by the developed countries of the world (USA, Great Britain, EU, etc.) - within the framework of already implemented and announced direct and indirect measures to stimulate the economy. Support reaches 10-15 % of GDP; interest rates are reduced to zero. However, the national financial system has a much smaller ability to work in a critically rational use of resources. Therefore, in order to overcome the consequences of the COVID crisis, which strengthens the industrial stagnation and economic recession of 2019-2020, a more flexible model of economic security is needed that would combine state financial support measures with organizational and economic tools aimed at to use and optimize the resources of national economic entities.

Thus, contrary to all these changes, the basis for ensuring the national economic security should be the real sector of the national economy. This is facilitated by a number of factors, the analysis of which is a prerequisite for determining a work plan to further improve the level of economic security and the position of our country during the global crisis is a vivid confirmation of this.

Economic security indicators of Ukraine.

In recent years, there have been significant changes in the methodology for assessing the economic security of Ukraine. The Methodology for Calculating the Level of Economic Security of Ukraine in 2007 [39] defined an integral assessment of the level of the ES of Ukraine as a whole in the economy and in certain areas of activity on the basis of a fairly wide list of indicators grouped in accordance with the sphere of ES: macroeconomic, production, financial (distributable) into budgetary, monetary, currency, debt, insurance, stock, banking), investment, foreign economic, scientific and technological, social, demographic, energy, food. Each area was evaluated by weight factor and contained a fairly wide range of indicators.

The following methodology for calculating the level of ES of Ukraine, approved in 2013 [33], provided for the calculation of the integral economic security index, consisting of 9 weighted average sub-indexes (consisting of ES): production, demographic, energy, foreign economic, investment and innovative, macroeconomic, social, financial security. That is, investment and scientific and technological security has already been considered as investment and innovative. The list of ES level assessment indicators has also been significantly expanded: the calculation of integral indices for these economic security components (subindexes) was carried out on the basis of the assessment of more than 130 individual indicators, including both statistical data and data obtained by the survey of respondents.

The National Economic Security Strategy 2021 maintains the approach to determine the integral indicator of economic security (Methodological recommendations of 2013 apply), but according to a much shorter list of indicators and areas that are evaluated (5 spheres): demographic security, as well as energy security, food security and social security. Instead, indicators reflecting Ukraine's place in international rankings are included [27].

Describing economic situation in Ukraine over the past 10 years, it is clear that it has not become a prerequisite for securing national economic interests. During this period, the state of the ES was assessed as unsatisfactory with the deterioration of indicators for almost all components to a dangerous level in 2012, 2014-2015 and 2019-2020 (Table 3).

It should be noted that not all ES indicators given in the Methodological Recommendations of the Ministry of Economy are included for analysis, but the main ones reflecting the situation in the relevant field of ES are selected.

Regarding the financial component of economic security, based on the results of its analysis, it can be noted that over the past 10 years the dynamic of financial indicators has been unstable, there has been a constant approach to their critical level and even exceeding it, which indicates an unsatisfactory state of financial security (Table 3). The reason for this was the permanent shortage of the state budget and the associated significant debt burden, weak functionality of the tax system, distrust of the population in the banking system, insufficiency of long-term investment lending to the economy and low liquidity of the stock market. The accumulated structural problems of the financial system of Ukraine led to its crisis for several years. However, in the report on the financial stability of the NBU, the national regulator noted the sufficiency of the level of financial security to ensure that the financial sector properly performs its functions and successfully passes the crisis caused by the COVID-19 pandemic [40].

Economic Security Indicators