THE IMPACT OF А FINANCIAL CRISIS ON THE COUNTRY'S ECONOMY

Abstract

The economic crisis caused by Russian aggression has led to a significant decrease of business activity in Ukraine. The negative impact of the economic crisis has led to a devaluation of economic indicators in all sectors of the country's economy. The consequences of the economic crisis include a downturn of the economy, rising unemployment, inflation, reduced solvency of the population, shortage of working capital, and a lower level of citizens' creditworthiness, which leads to an inability to fulfil debt obligations. In such circumstances, it is important to study the impact of the financial crisis on the country's economy and to search for effective anti-crisis forms of economic recovery in the post-crisis period. The article analyses the impact of the financial crisis on the country's economy in the modern conditions. In the course of the study, it was found that the Ukrainian economy is recovering faster than expected. This was facilitated by the absence of power outages and the further development of logistics routes, in particular through the western borders. Despite the low production volumes, the overall financial performance tends to improve. It is noted that a significant percentage of the state budget deficit is financed mainly by international financial assistance, which covers the balance of payments imbalances and promotes the growth of financial reserves. It was found that a slight improvement in the consumer capacity of the population had a positive impact on credit demand for certain types of loans and contributed to the stabilisation of the retail loan portfolio. On the basis of the study, a range of anti-crisis forms of economic recovery of the country at the macro and micro levels has been outlined. A matrix of the country's budget policy for future periods has been developed. It is summarised that there is currently no unique way out of the crisis, and the country's leadership should develop and implement a unified economic recovery programme. At the same time, it is worth noting that the anti-crisis measures that are being implemented at the state level at the moment are quite effective. Therefore, it is worth proceeding with their integration into various sectors of economic activity.