Actual problems of innovative economy and law

Journal "Actual problems of innovative economy and law" is included in category B for specialties: in the field of knowledge "Management and administration": 073, 076 (order of the Ministry of Education and Science of Ukraine dated 23.08.2023 No. 1035) and 071, 072, 075 (order of the Ministry of Education and Science of Ukraine dated 12.20.2023 No. 1543); in the field of knowledge "Social and behavioral sciences" 051 (order of the Ministry of Education and Science of Ukraine dated August 23, 2023 No. 1035); in the field of knowledge "Law" - 081 and "Public management and administration" - 281 (order of the Ministry of Education and Science of Ukraine dated 12.20.2023 No. 1543).
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The impact of the world COVID-19 pandemic on the economy of countries and business activities

# 13 77-82 Download/view full article

УДК: 338.14

DOI: https://doi.org/10.36887/2524-0455-2020-4-13

Скупський Руслан Миколайович,
доктор економічних наук, професор, завідувач кафедри підприємництва, управління та адміністрування, Миколаївський інститут розвитку
людини Університету «Україна»,
ORCID ID: 0000-0003-1522-6101
Гнатенко Євгенія Петрівна,
кандидат економічних наук, доцент, доцент кафедри
підприємництва, управління та адміністрування, Миколаївський інститут розвитку
людини Університету «Україна»,
ORCID ID: 0000-0001-6201-6268

Abstract.

The article finds that modern business is increasingly facing new challenges, which are accompanied by a lack of sustainable economic development at both micro and macro levels. And this challenge is the coronavirus, which has caused a powerful economic crisis in the world. Each country directly or indirectly experiences the negative impact of the coronavirus on its financial and economic system. There are large companies around the world that have declared themselves bankrupt during the pandemic. It is estimated that the IMF estimates that the world economy will shrink by 3% in 2020 – that is, the worst recession since the Great Depression of the 1930s. The number of bankrupt enterprises in Ukraine in 2020 due to the coronary crisis was also investigated. The article analyzes the dynamics of liquidated bankrupt enterprises in Ukraine for 2012-2020. It was determined that 2015 was the most stressful – the largest number of liquidated bankrupt enterprises. Thus, solvent enterprises remained on the market. The study showed that during the pandemic, the number of liquidated bankrupt enterprises decreased significantly compared to previous periods, Ukrainian business has survived and continues to operate, although experiencing significant financial and economic difficulties.The article lists the areas of economic stimulation under the Economic Incentive Program to overcome the consequences of Соvid-19: “Economic recovery” to overcome the negative effects caused by restrictive measures to prevent the emergence and spread of coronavirus disease (COVID-19) for 2020-2022, namely: short-term initiatives have been developed in response to COVID-19; measures of the sectorial direction of stimulating the economy and supporting the economy in functional areas are proposed. In addition, the program presents an analysis of the challenges and the Government’s approach to responding to the challenges. It is noted that an effective measure to stabilize the financial condition of the enterprise is to conduct a comprehensive analysis of its activities to determine short-term and long-term prospects.

Keywords: economy, pandemic, economic crisis, bankruptcy, insolvency, corona crisis, enterprise, stabilization.

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The article was received 15.09.2020