Assessment of the consequences of the ongoing military conflict in Ukraine and prospects for economic recovery

Abstract

According to the available data the authors have studied some aspects of the loss of Ukraine's economic potential as a result of Russian aggression and draft plans for post-war reconstruction, including those developed with the participation of international partners. The paper analyzes the urgent legislative initiatives and regulatory measures to be taken in the conditions and during the active phase of Russian aggression in Ukraine. The article examines some aspects of existing measures and medium-term plans for international support for post-war reconstruction. The main dimensions (regional and parametric) and key principles on which the recovery plan should be based, taking into account the European vector and the recommendations of international partners, are substantiated. Emphasis is placed on the need to form a comprehensive legislative and regulatory framework with appropriate scientific support to ensure the systematic organization of processes related to economic loss assessments, post-war reconstruction. Potential opportunities for the implementation of the new Reconstruction of Ukraine Program approved by the European Commission are analyzed. It has been emphasized that this program will become a new legal instrument for the European Union to support the reconstruction plan through a combination of grants and loans and will be included in the EU budget. The following main directions of reconstruction have been identified: reconstruction of the country in accordance with European standards (infrastructure, medical institutions, housing and schools, as well as the digital and energy sectors); continuing the modernization of the state by providing support for administrative capacity and technical assistance at all levels; implementation of the agenda of Ukraine's integration into the EU; economic recovery through fostering economic competitiveness, trade and private sector development, green transition and digitalization.