International Economic Relations in Conditions of War: Challenges and Opportunities
International Economic Relations in Conditions of War: Challenges and Opportunities

Summary/Abstract: The article examines modern challenges and opportunities of international economic relations in the conditions of war. The biggest challenge is that as the total amount of loss increases, so does the number of damaged and destroyed infrastructure, housing, industry, energy, education, and medical facilities. The key problems of international economic relations in the conditions of military aggression are identified, among which are the following: the fall in real GDP in Ukraine, which was deeper than in most countries that experienced an armed conflict; decrease in international investments and loss of investors’ confidence in economic stability; sanctions and trade restrictions imposed as a result of military conflicts and, consequently, complicating international trade; deterioration of the humanitarian situation. The purpose of the article is to identify challenges to international economic relations in the conditions of full-scale armed aggression of russia against Ukraine and to figure out the factors that have a positive effect on the economy. It is emphasized that the war affected global food security, migration flows and redistribution of national budgets in favour of military spending. Ukraine received an extended credit program from the International Monetary Fund, as well as financial support from our partners. Thanks to this program, Ukraine is implementing the reform plan and strengthening its stability and efficiency. It has been established that military conflicts stimulate the development and introduction of new technologies in the military-industrial sector, which can positively affect the future of the economy. A crucial tool of post-war reconstruction in Ukraine should be an innovative policy aimed at introducing system tools to stimulate innovative activity and modernize the economy. It is important to revise the economic policy, the development of new industries that will reduce dependence on external resources and create new opportunities for economic growth.

• Details
• Contents