Functioning of ukrainian enterprises in the conditions of war: analysis of the situation and economic expectations

Hudz Tetiana
professor of the Department of Finance and Banking, Doctor of Economic Sciences, professor, Poltava University of Economics and Trade, Poltava, E-mail:gtp9@ukr.net, ORCID ID: https://orcid.org/0000-0002-2310-5425

Yehorycheva Svitlana
Doctor of Economic Sciences, professor, professor of the Department of Finance, Banking Business and Taxation, Yuriy Kondratyuk Poltava Polytechnic National University, Poltava, E-mail:yehorycheva.sb@gmail.com, ORCID ID: https://orcid.org/0000-0002-7829-7073

Lytvyniuk Maksym
recipient of the third (educational and scientific) level of the degree of Doctor of Philosophy in the specialty 073 Management, Department of Management, Poltava University of Economics and Trade, Poltava, E-mail:litvinyuk.maxim@gmail.com, ORCID ID: https://orcid.org/0009-0005-8945-6139

Cite this article:

Hudz T., Yehorycheva S., Lytvyniuk M. (2023) Functioning of ukrainian enterprises in the conditions of war: analysis of the situation and economic expectations. Ed.: V.V. Kovalenko (ed.-in-ch.) and others [Funktsionuvannia pidpryiemstv Ukrainy v umovakh viiny: analiz sytuatsii ta ekonomichni ochikuvannia; za red.: V.V. Kovalenko (gol. red.)], Scientific Bulletin of the Odessa National Economic University (ISSN 2313-4569), Odessa National Economics University, Odessa, No. 5-6 (306-307), pp. 7-15.

Abstract

The purpose of the article is to study the current conditions of functioning of domestic enterprises in various sectors of the Ukrainian economy, to characterise threats and key areas of change. This goal is achieved by consistently solving problems using dialectical and logical approaches, methods of induction and deduction, analysis and synthesis, calculation of absolute and relative indicators that characterise the conditions and volumes of activity of enterprises in Ukraine. The economic consequences of the military and terrorist actions of the aggressor country on the territory of Ukraine, as well as the achievements of our state, are investigated. The most significant of these are: loss of human capital, destruction of the productive forces of domestic producers, growth of the consolidated budget deficit, imbalance of the balance of payments, significant growth of external debt, reduction of gross domestic product, and rising inflation. The achievements of our country during the war, which fundamentally shape the current economic environment, include the defence of independence, consolidation of the international community's efforts to ensure Ukraine's victory, acquisition of the status of an EU candidate country, expansion of preferential regimes for Ukrainian enterprises to enter the European market, preservation of stability in the banking sector and keeping the value of the national currency within the currency fairway. The article describes the activities of enterprises by type of economic activity, which reveals the estimated indicators of losses caused by the war, reduction of industrial and agricultural production, construction, transportation, as well as restrained pessimistic economic expectations in the business environment under the influence of a high level of uncertainty about the duration of the war, environmental, social and economic consequences of the enemy's ecocide, monetary and tax pressure. The article highlights the instruments of state regulation of economic activity during the war, namely, the development of projects for the reconstruction of infrastructure and socio-economic development of the economy, monetary levers of influence of the National Bank of Ukraine, mechanisms of external financing to support the balance of payments and ensure military and social expenditures of the state budget. The practical significance lies in the formation of a range of tasks for the state and business in the short and long term to rebuild industrial and social infrastructure, restore production facilities and housing stock, ensure access to social and medical services, build sustainable energy efficient and inclusive infrastructure, stimulate the development of competitive industry, improve the quality of human capital, and meet European integration requirements.

Keywords

enterprises, business, budget, deficit, infrastructure, losses, war, European integration, development.

JEL classification: M290, E690; DOI: 10.32680/2409-9260-2023-5-6 -306-307-7-15

UD classification: 658.14/17:330.14

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