APPROACHES TO THE FORMATION OF UKRAINE’S FINANCIAL RESISTANCE UNDER CONDITIONS OF GROWING DEBT DEPENDENCE

Abstract

The complexity of Ukraine’s debt situation necessitates the development of new approaches to debt and economic management. The concept of financial resistance, in contrast to financial stability, enables the construction of a flexible and adaptive economic model for countries with high levels of external and internal debt. This underscores the importance of studying approaches to the formation of financial resistance.
The aim of this study is to define and systematize the principal theoretical approaches to shaping the country’s financial resistance under conditions of increasing debt dependence. While numerous academic works address related topics, the methodology of financial resistance remains insufficiently explored.
This article compares the conceptual essence of financial stability and financial resistance. The characteristics of both categories are analyzed, and it is demonstrated that financial resistance is a multifaceted phenomenon, which can be ensured by establishing quantitative thresholds for each of its components. These components – whichwhich include financial, economic, and social stability, as well as investment attractiveness – constituteconstitute the parameters of a state’s financial resistance.
Debt sustainability plays a central role in ensuring financial stability and falls within the scope of public debt management policy. Key financial and economic indicators, including the debt situation, should serve as benchmarks for setting strategic goals and establishing parameters conducive to achieving financial resistance.
The study defines financial resistance as the state’s capacity for stability and its ability to withstand shocks or adapt its structural features to maintain effective functioning under changing conditions. In this context, growing debt dependence is a critical factor.
The article justifies the distinction between different types of financial resistance: active and passive resistance. Additionally, it differentiates financial resistance based on time horizons, identifying short-term and medium-term resistance as distinct categories.
The conclusions emphasize that advancing the study of financial resistance methodology will support the development of scientifically grounded strategies for constructing a resilient economic model for Ukraine. This, in turn, will facilitate the optimization of the core components of financial resistance in conditions that necessitate debt financing.