LIUDMYLA YU. SAHER, NATALIIA YE. LETUNOVSKA, ANASTASIA P. NAZARENKO
Comparison of Ukraine and the EU on Key Indicators of a Healthy Economy
(original language – English)
https://doi.org/10.21272/mer.2020.89.10
Modern approaches to economic management are based on sustainable development principles, which ensure the balance between economic, environmental, and social targets of public policy, balancing society's current and future interests. The mechanism for achieving the target values of sustainable development indicators is the formation of a healthy economy. A healthy economy provides opportunities for stable growth and minimizes social risks caused by economic problems.
The importance of forming a healthy economy is confirmed by a significant amount of research on this topic in developed countries, particularly the European Union. The Ukrainian scientific community ignores this issue. That indicates different economic management approaches, identifying priorities for its development, coordinating economic and social, strategic, and tactical goals.
The paper presents a comparative analysis of key indicators that determine a healthy economy. Such indicators include GDP, employment, and inflation. According to numerous studies, these indicators are the most indicative in assessing the economic system to determine whether it can be considered healthy. As a result of the study, significant differences in Ukraine and the European Union's studied indicators were revealed. Based on statistical information, a steady upward trend in key indicators of socio-economic development in the European Union has been established. Instead, similar indicators in Ukraine indicate economic instability, which has a significant negative impact on the country's further development and the prospects for a healthy economy. Thus, the analysis allows us to conclude that the European Union's economy generally meets the definition of a healthy economy and creates the conditions for sustainable development of the European Union. Instead, Ukraine's economy is focused on solving tactical problems and cannot solve socio-economic development's strategic tasks.
Key words: healthy economy, comparative analysis, development indicators, GDP, employment, inflation, European Union.
Placed in №3, 2020.
Affiliations:
Liudmyla Yu. Saher, C.Sc. (Economics), Associate Professor, Department of Marketing, Sumy State University;
Nataliia Ye. Letunovska, C.Sc. (Economics), Senior Lecturer, Department of Marketing, Sumy State University;
Anastacia P. Nazarenko, Student, Department of Marketing, Sumy State University
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