UKRAINE'S ECONOMIC SECURITY UNDER MARTIAL LAW

Abstract

The article provides a comprehensive analysis of the state of economic security of Ukraine under the conditions of martial law and large-scale military aggression. The study identifies key internal and external threats that affect macroeconomic stability, including the destruction of production capacities, disruption of logistics chains, reduction of investment inflows, deterioration of fiscal sustainability, acceleration of inflationary processes, currency volatility, and increasing debt risks. Particular attention is paid to structural imbalances in the national economy caused by hostilities and forced adaptation to new economic realities. The paper evaluates the impact of the war on strategic sectors of the economy, such as industry, agriculture, energy, transport infrastructure, financial system, and labor market. It is emphasized that the loss of human capital, migration processes, and demographic decline significantly influence the long-term sustainability of economic development. The authors analyze the transformation of public policy instruments aimed at maintaining macroeconomic equilibrium, ensuring budgetary stability, supporting critical infrastructure, and preserving financial resilience. Special consideration is given to the role of state regulation, macroeconomic stabilization measures, and structural reforms in strengthening economic security. The research substantiates proposals for improving fiscal discipline, enhancing institutional capacity, stimulating domestic production, diversifying export markets, and increasing the efficiency of public expenditures. The importance of digitalization, modernization of the energy sector, and development of innovation-oriented industries as strategic priorities for post-war recovery is also highlighted. The study underlines the decisive role of international financial assistance and cooperation with global institutions in maintaining macroeconomic stability and rebuilding the national economy. It is concluded that ensuring economic security in wartime requires an integrated approach that combines financial, structural, institutional, and social policy instruments aimed at long-term resilience and sustainable economic growth.