THE IMPACT OF THE CORONAVIRUS PANDEMIC ON THE ECONOMY OF UKRAINE: A SECTORAL ANALYSIS OF THE CONSEQUENCES AND OPPORTUNITIES FOR RECOVERY
Abstract
The article examines the state and trends of the Ukrainian economy during the pandemic of coronavirus COVID-19, economic opportunities for economic recovery in the short term. The paper presents an analysis and structure of key sectoral socio-economic losses and losses (loss of income) by economic agents under the influence of the pandemic. The study identified and analysed the main economic groups of the consequences of COVID-19, such as: GDP reduction; decline in industrial production; significant reduction of revenues from economic activities of air carriers and maritime transport; shopping and entertainment centres, tourism industry; reduction of household incomes with a simultaneous increase in their expenditures; increase in profits of pharmaceutical companies and the gaming, educational and other online application's industry (in particular, food and medicine delivery); declining business and investment activity and growing investor demand for less risky assets in the Ukrainian market; changing trends in retail and online trade; digitalization of business processes. The paper examines the impact of the factor of “remote” and “hybrid” format of work on the employment market (both national and global dimension). According to the results of the study, conclusions were made about the key current opportunities (projected) recovery of the national economy by sectors (areas of economic activity) in the post-covenant period, provided that new lockdowns are not introduced in autumn 2021 due to the spread of a new strain Delta. The expected recovery of the national economy is projected to be gradual and slow due to significant economic, political and epidemiological risks (so far small volumes of vaccination and the risk of a new wave of pandemic). Given the high uncertainty of global economic and security trends, small and weak economies should develop short-term national recovery strategies, focusing primarily on their own financial resources and economic opportunities, providing financial and legislative support to national companies and the domestic market.
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