Assessment of the Financial and Economic Security Level of the EAEU Member States in the Context of Growing Macroeconomic Uncertainty

Abstract

The main factors of macroeconomic uncertainty for the Eurasian Economic Union member states are the threat of a global financial crisis, long-term restrictive measures associated with the spread of the pandemic, trade wars between major states, new sanctions, volatility in commodity prices, growing inflationary pressures, internal risks of tightening monetary policy, volatility of national currencies, as well as an increase in the budget deficit and total debt. There is a need to protect against undesirable external influences and radical internal changes in the conditions of global instability, to assess the socio-economic potential of the Eurasian Economic Union member states on the way to a single integration space, in other words, the need for security is a basic, fundamental need, both for the life of an individual and including society and the state, which makes this study more relevant. The COVID-19 pandemic had a major impact on many economic and social processes. In these difficult conditions of external factors’ influence, the system of ensuring financial and economic security acquires significance. The conducted research allows concluding that, firstly, the economic security of the countries of the Eurasian Economic Union is a complex concept that reflects the state of the financial system of countries, their ability to timely and reliably meet needs of the economy in the amounts necessary to provide growth of the economy in the conditions of integration. Moreover, the indicators of budget and stability of investments of each of the countries determine the level of the EAEU member financial security.