Some aspects of Ukraine's transition to sustainable development

Abstract

The experience of the last 25 years of formation of the market model of Ukraine's economy shows that our country has not yet created effective conditions for stable economic growth, which is closely linked to capital accumulation and intensification of investment in all sectors of the economy and further economic gap between the developed countries of the world and our country has become a trend and, as a consequence, has led to a decrease in the competitiveness of the domestic economy. Also, low added value in basic industries does not allow to accumulate sufficient capital and redistribute these savings for the development of new industries, which, in turn, does not allow to raise the socio-economic standard of living to the European level to ensure sustainable development.Moreover, in recent years we can observe a reorientation of the country's economy from industrial to agricultural. Such global changes are rather painfully reflected in both social and economic aspects. The centers of capital formation are changing, there is an excess of labor resources in some industries and a shortage in others, and, accordingly, an increase in unemployment, a drop in living standards, migration, and other negative elements that are inherent in the period of change in the country's economic structure.European integration processes undoubtedly determine the vector of development of our state, but in order to transform the powerful post-Soviet industrial economy, we have to solve many complex social, economic and other problems.In turn, the transition of the advanced economies of the world to a new technological order, comprehensive digitalization, the development of genetic technologies, environmental problems that threaten the further existence of mankind and othersthe global transformations that are currently taking place in the world community give rise to many extraordinary challenges, the answer to which requires new, non-traditional knowledge and approaches.To solve these problems, it is necessary to analyze the experience of European countries, which showed that at the present stage of development of the world economic system, unlimited economic growth is not a determining factor in creating an efficient economy. Understanding this reorients the European economy and the world at large to build a model based on the principles of sustainable development, taking into account environmental, economic and social components.