Recovery of the Economy: Financing and Compliance With the Principles of Transparency in the Conditions of Geopolitical Opposition

Abstract

Introduction. The war became part of the existence of modern Ukraine and caused radical changes in society, reformatting of economic processes both on a national and global scale. This updated the scientific discourse on the achievement of political, social and economic stability in the post-war period and the vectors of economic recovery, taking into account various scenarios of guaranteeing the country's security. Social solidarity and self-awareness of democratic countries enable Ukraine, as a candidate country for joining the European Union, not only to conduct military operations, but also to develop sectoral development strategies. Since there is no other model of economic recovery and development for the Ukrainian state, except for the implementation of EU rules (requirements) and 19 structural beacons within the framework of the cooperation program with the IMF, therefore the choice of financing options for economic recovery must comply with the principles of recovery, in particular transparency, accountability and the rule of law, which will contribute to expanding the circle of potential investors and improving the investment climate in conditions of geopolitical confrontation. The purpose of the article is to deepen the theoretical and applied foundations of the recovery of economies after wars and military conflicts, as well as to substantiate the expediency of applying the principles of transparency to achieve coordinated actions of participants in the recovery of the Ukrainian economy, taking into account the effects of geopolitical confrontation. Results. The need to restore the industrial infrastructure to stimulate not only domestic economic and business activity, but also the introduction of a greater number of industrial products to the market of the European Union is substantiated. The priority of the development of economic recovery projects, which should become important structural elements in the formation of the project market, is analyzed. In order to adequately assess the attractiveness and compliance of projects with the interests of the economy and business, a model for evaluating financing objects is proposed. Prospects for the purchase of affordable housing by citizens, taking into account the financial situation of citizens, assessment of the cost of housing and its availability on the residential real estate market, determination of basic trends of individual characteristics of state programs and approaches to their adaptation for temporarily displaced persons are considered. Conclusions. Ukraine, as a candidate country for joining the European Union, is guided in its development by the principles and norms of the EU, which are developed for developed economies. We have determined the vectors of economic recovery, which are based on four approaches: compliance with the principles of economic recovery; development of the economic complex for the medium and long-term period with balancing of inter-branch connections and resources; expansion of the list of financial instruments to stimulate the attraction of international donors, foreign and private investments; establishment of a list of main criteria for project selection. New historical realities for the future growth of the national economy require further scientific research on access to financing with a competitive cost of capital, the preparation of projects for the infrastructure and production components of recovery and reconstruction programs, the development of scientific methods of the algorithm for the distribution of general funding between sectors and strategic programs with the provision of priorities for transformation and modernization defense industry.