Наукові конференції України, VІ Всеукраїнська науково-практична конференція з міжнародною участю «Глобалізація напрямів формування промислового потен

Розмір шрифту: 
Amina Ruslanivna Parkhomuk

Остання редакція: 2020-12-07

Тези доповіді

There are several macroeconomic indicators to measure a country's economic development. However, the most relevant of them all is Gross Domestic Product (GDP), which is being calculated as the total value of all finished goods and services produced by economic entities of the country and its residents within its territory during a certain period. The study of this macroeconomic indicator makes it possible to assess the main processes occurring in the socio-economic life of any country, to investigate further economic development, to compare it with the socio-economic development of other countries. To do this, in addition to GDP, the amount of GDP per capita is determined.

GDP is the total market value, is it is an aggregate indicator: it shows the effectiveness of the functioning of the entire economy, many industries and enterprises that make up the economy. GDP is also a value indicator, which is explained by the fact that the country produces a huge number of goods and services that can be compared only with the help of monetary valuation.

A distinction should be made between nominal and real GDP. Nominal GDP is the GDP calculated in the prices of the current year. With the help of nominal indicators, it is possible to analyze and compare the GDP of different countries and the indicators of one country at different intervals. Such indicators are usually compared with real data. Real GDP is the current volume of production, calculated in comparable prices of the base period. It measures the cost of final goods and services that are produced in the country for the year at constant, fixed prices, and therefore is a more accurate indicator of the functioning of the economy [1].

On Fig. 1, during 2010-2013, we can see a slight increase in Ukraine's real GDP, which indicates a small increase in the country's economy as a whole. Since 2014, nominal GDP continues to grow (by UAH 121 billion compared to 2013), but real GDP is declining by UAH 35 billion. Such significant differences and gaps in nominal and real GDP indicate inflation, which has arisen due to rising prices for goods and services and declining output. As a result, the purchasing power of the population is reduced and the living standards of the population fall.

The lag of real from nominal GDP continues until 2019. The maximum gap occurred in 2015 in the amount of UAH 556 billion, is by 28%. This is due to the lack of significant progress in restoring control over the anti-terrorist operation zone, revision of trade conditions for Ukraine in the projected period in the direction of deterioration, a significant reduction in exports to Russia, strengthening fiscal and monetary policy [3]. In addition, inflation was not only monetary due to the devaluation of the hryvnia, one of the main reasons for the rise in inflation may be a catastrophic increase in utility tariffs, which will continue in the next 2016 [4].

In 2019, the gap narrowed to UAH 298 billion, which is almost twice less than in 2015. This indicates the stabilization of the economy: compared to 2018, the construction sector (by almost 23%), services (by 15%), IT (by 7.5%), real estate (by 7.5%) and temporary accommodation and catering (by 7.1%).

The economic well-being of citizens is closely linked to the macroeconomic indicator – GDP per capita. Its changes are similar to changes in GDP. Thus, in 2018, the lag of the real from the nominal was in the amount of UAH 11,240 (Fig. 2).

Thus, deep structural imbalances, significant macroeconomic imbalances, the armed conflict in eastern Ukraine, and lack of transparency in the public sector have led to a situation that needs to be corrected. Ensuring macroeconomic stability in the financial sector should be a first priority. Public policy, which is supposed to stabilize GDP, must be accompanied by key reforms.

Ключові слова

GDP, nominal GDP, real GDP

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