ENSURING ECONOMIC STABILITY IN UKRAINE UNDER COVID-19 PANDEMY CONDIOTIONS: ONGOING ISSUES AND IMPROVEMENT PERSPECTIVE

Abstract

Paper offers a look at the problems of ensuring economic stability in Ukraine in the context of the COVID-19 pandemic. A thorough analysis of research papers from developed and developing countries is performed in terms of socio-economic consequences of the corona-crisis and ways to increase economic stability in the context of the COVID-19 pandemic. The key drivers of the corona-crisis and its impact on the world economy in general and Ukraine in particular are considered. The major socio-economic consequences of the COVID-19 pandemic are highlighted. Examples of measures implemented by governments around the world to restore economic stability in the context of the COVID-19 pandemic are presented. Paper’s special focus is on causation in the development of corona-crisis. Emphasis is placed on the atypical course of the corona-crisis in comparison with the «traditional» financial and socio-economic crises. The peculiarities of the governments’ measures around the world under corona-crisis conditions are presented, with a special focus on the levers of social support and digitalization. The best practices for overcoming the negative socio-economic consequences of the COVID-19 pandemic, aimed at strengthening economic stability, are summarized. Examples of measures of social support and digitalization in the context of overcoming the negative consequences of the corona-crisis are given. A review of a set of measures taken by the Government of Ukraine is performed, aimed at strengthening the economic stability of Ukraine. Relevant decisions on overcoming the negative socio-economic consequences of the corona-crisis are highlighted, with a special focus on Ukrainian peculiarities. Potential risk areas of financial and socio-economic nature in the context of the corona-crisis in Ukraine are identified, based on the peculiarities of Ukraine’s national economy. Priority areas for the Government of Ukraine measures in the context of socio-economic consequences due to the COVID-19 pandemic are identified. Authors’ view of measures in terms of social support and digitalization in Ukraine are presented. Authors emphasize on maintaining a balance between measures aimed at containing COVID-19 spread and measures aimed at stimulating economic growth.