INTERNATIONAL ASSISTANCE AS THE BASIS OF THE POST-WAR RECOVERY OF UKRAINE'S ECONOMY

Abstract

Russia's invasion to Ukraine has led to massive disruption of economic activity chains, destruction of production facilities and critical infrastructure; aggravation of environmental problems; migration of people and loss of life. The current estimate of the damage caused to Ukraine by the aggressor country reaches hundreds of billions of dollars and this figure continues to grow. The scale and consequences of the war jeopardize the results of Ukraine's socio-economic development, destabilize production, disrupt trade channels (including exports), reduce investment and lead to an outflow of human capital. This, in turn, leads to a decline in GDP, state budget revenues and the number of taxpayers, while increasing unemployment and the price index. The combined effect of these factors leads to a socio-economic crisis in the country, which cannot be overcome in the context of the ongoing war and on our own. Therefore, financial assistance from international partners is a prerequisite for ensuring the viability of the Ukrainian economy and the defense capability of the Ukrainian army. The purpose of the study is to examine the theoretical aspects of in-ternational financial assistance to Ukraine in times of war, the state mechanism for Ukraine's recovery and the provi-sion of international financial support. The main results of the study are: systematization of the classification of inter-national financial assistance; analysis of the structure of international assistance by country and type; assessment of the level of international assistance to GDP of partner countries; disclosure of the process of formation of the state mechanism for the restoration of Ukraine; determination of the prospects for international financial support in the post-war period. The article provides a comparative analysis of the volume and structure of international aid and the level of aid to GDP of partner countries. It is shown that the Strategic Recovery Plan is consistent with the work of the National Recovery Council and the Lugano Declaration, which outlines six key priority areas for the recovery of Ukraine's economy: macroeconomic stability, economic freedom, European integration and market access, access to know-how, access to finance and transformation of priority sectors. A promising area of research in this area is to systematize the instruments of Ukraine's economic recovery and the mechanisms of their application by international partners: macro-financial assistance to maintain stability; technical assistance focused on the harmonization of EU legislation; use of special financial instruments of the EU and IFIs to ensure EU-compatible sectoral transformation; war risk insurance to restore destroyed assets and new investments; and the involvement of EU institutional innovations.