International experience in providing state assistance to enterprises under special circumstances

Abstract

Introduction. The coronavirus pandemic has led to disruptions in supply chains at both the global and national levels. State support for economic agents plays an important role in maintaining economic activity of business entities. The purpose is to identify best practices in the field of state aid through the study of international experience in implementing state support programs for enterprises in special conditions (the case of EU). Research methods: basic methods of policy analysis (institutional analysis, descriptive analysis); synthesis and generalization of the data obtained; graphical method (to ensure the clarity of the data). Results and conclusions. The institutional mechanism for supervision and control over the expediency of state aid at the EU level is represented by a standard document, which is supplemented by specific aspects in accordance with the funding program. An important feature of the mechanism for allocating state aid in the EU is the creation of prerequisites for proper oversight of the expediency of using funds, transparency of decisions and accountability of applicants. Information support for disclosure of data by enterprises applying for participation in state aid programs is based on the disclosure of reliable information on the current state of financial and economic activity and development prospects. This has created a strong reporting infrastructure for companies, which includes general purpose financial statements, a management report, and a sustainability report as part of it (or as a separate document). The introduction of corporate sustainability reporting in Ukraine as a source of assessing the admissibility of state aid through the implementation of EU directives is a promising area for further research.