Poltorak Anastasiia, Doctor of Sciences (Economics), Professor, Head of the Department of Management, Business and Administration, Mykolayiv National Agrarian University, Mykolayiv, Ukraine

ORCID: 0000-0002-9752-9431
e-mail: poltorak@mnau.edu.ua

Management of Financial Security Risks of Ukraine in the Global Environment of Instability

Abstract. Introduction. Ukraine faces a high level of threats to financial security in the current conditions of global instability, which is a key component of the state’s economic resilience. The influence of internal factors, such as declining economic activity, budget deficits, and institutional weakness, as well as external challenges, including geopolitical instability, disrupted supply chains, and global financial shocks, necessitates improving financial security risk management systems. Managing financial security risks has become particularly important in Ukraine in the context of the ongoing war, post-war recovery, and adaptation to global challenges.

Purpose. This article aims to establish the theoretical and methodological basis for managing Ukraine’s financial security risks in an unstable global environment. This study is based on analytical materials from the National Institute for Strategic Studies, the National Bank of Ukraine, the Ministry of Economy, the State Tax Service, the Cabinet of Ministers of Ukraine, the National Agency for the Prevention of Corruption, and other official sources. These materials were used to summarize, evaluate, and compare the effectiveness indicators of financial security risk management across key stakeholder groups.

Results. By 2025, Ukraine’s financial security system will operate under conditions that require the simultaneous fulfillment of defense and security needs, economic growth stimulation, and social stability maintenance. The main financial security risks are an excessive state budget deficit, a deteriorating pension system, a loss of fiscal capacity, underfunding of important social expenditures, distrust of the tax and customs authorities, growing public debt, a decline in the quality of banks’ credit portfolios, and a reduction in institutional capacity in the banking sector. According to an analytical report by the National Institute for Strategic Studies, risk management effectiveness among different stakeholder groups ranges from 1.9 to 3.4 points on a five-point scale, indicating the system’s partial efficiency. The highest levels of effectiveness are associated with risks managed through international support, while institutional risks are the most vulnerable.

Conclusions. Managing Ukraine’s financial security in an unstable global environment requires synchronizing fiscal, debt, monetary, and structural policies; strengthening the institutional capacity of public administration bodies; developing local financial institutions; and forming multilevel stakeholder interaction mechanisms. Essential prerequisites for enhancing the effectiveness of financial security risk management in the context of war, global crisis, and post-war recovery include strengthening fiscal discipline, improving debt risk management, increasing trust in fiscal institutions, boosting investment activity, and integrating Ukraine into the European financial space.

Keywords: financial security management, financial security, risk management, global instability, fiscal resilience, debt security, post-war recovery, integrative potential of the economy.

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