Ministry of Economy's Order №1277

Ministry of Economic Development and Trade of Ukraine by Order № 1277 of 29 October approved Guidelines on calculating the level of economic security of Ukraine, informs the press service of the Ministry of Economy.

Guidelines were developed by the Ministry in cooperation with the Research Economic Institute under the Ministry of Economic Development to determine the level of economic security of Ukraine as one of the main components of national security and define a list of basic status indicators of economic security, their thresholds.

"Ministry of Economic Development pays considerable attention to improving methodological approaches to monitoring and assessment of threats to the economic development of Ukraine in dynamic economic processes. The results of monitoring will form the basis for decisions regarding timely response to modern challenges and threats", Minister of Economic Development and Trade of Ukraine Ihor Prasolov said.

Guidelines are based on a comprehensive analysis of indicators of economic security with the detection of potential threats and are used by the Ministry for integrated assessment of economic security for the economy as a whole and for individual business areas. In particular, the document determines an algorithm for calculating the integral index of economic security - consisting of 9 weighted sub-indices - components of economic security, including: macroeconomic, financial, foreign trade, energy, manufacturing etc.

Guidelines can be used by state authorities, academic institutions and citizens how to make a quantitative assessment of the economic security of Ukraine, and to identify potential threats to the national economy.