Journal of Security and Sustainability Issues

Economic security is currently becoming one of the key dimensions of strategic thinking in the context of growing geopolitical tension, instability, uncertainty and systemic economic shocks. The paper analyses economic security as a complex and multidimensional concept that combines the protection of survival, sovereignty and prosperity with the ability to anticipate, absorb and respond to growing threats and risks. The first part deals with the theoretical foundations of the concept of economic security. This is followed by a discussion of global trends and risks. The third part analyses the instruments, strategies and limits of EU economic security policy. And the final chapter formulates recommendations for moving towards a resilient and adaptive policy. The results of the study indicate the need for a coordinated and value-based response to the challenges of an unstable multipolar world in which tensions and rivalries are growing, because economic security is no longer just a question of national survival, but also of ensuring the sustainable development of open and democratic societies in a period of global transformation.

State security is a key issue both for the state as an entity and for its inhabitants. The economic security of the state is a particularly important component which can manifest itself on many different levels. The most important of them is financial security. This aspect of security is relevant as in modern economies money is the key value. Therefore, the financial security of the state is a component of economic security, but at the same time its key determinant. The level of financial security, which in the simplest terms is an ability to raise funds when needed, is influenced by a number of factors, the most important of which are the stability of the financial sector, the size of public debt, as well as the size and structure of the country’s foreign exchange reserves. This paper attempts to analyze individual factors that affect the condition of financial security of the state. In the next part, a structural analysis of the most important aspects of the state’s financial security was performed. The research showed that the state of Poland’s financial security could now be assessed quite highly, but the effectiveness of all the measures taken by the government and the central bank to date would be verified in the near future through the development of the situation caused by the COVID-19 pandemic.

It was argued that the development of an effective strategy for the protection of the industrial organization and ensuring its proper implementation should be based on the methodological basis of the theory of security. The fundamental changes in the process of formation of a security strategy are determined by the fact that the process specified is objectively developing and gradually becoming more complicated. At the present stage, the security strategy is formalized into a certain organized system, which should include the existing structural subdivisions of the business entity and create conditions for the protection of the priority areas of its operations. The main objective of formation of a strategy for the protection of entrepreneurship is the early distinguishing and isolation of external and internal dangers and threats, overcoming existing imbalances in the process of formation of the innovative basis for further development, creation of a safe environment for the existence of a business entity and, ultimately, achieving the stated goals of a particular industrial organization. All this allows us to formulate an appropriate strategy for its economic security.

The article analyses conceptions of both, the economic security and financial security of the state, in respect to a recent increase of attention given to assuring the state’s economic security while emphasizing mostly the financial factor. Therefore, a thorough analysis on the two conceptions, as well as, on their interrelation, based on scientific literature, revealed that state’s financial security and stability can reflect the economic security of the state only to some extent. The performed scientific practical research verified the hypothesis, which emerged during theoretical research, that financial security and stability cannot fully ensure the economic stability of the state.

The presented paper aims to discuss new Lithuania’s in role taking presidency of the EU and to evaluate Lithuania’s development process. State of Lithuanian economy is being presented; aims of further development are identified. The context of other European countries is being taken into account. Authors rely on critical analysis of contemporary scientific literature and comparative statistics. Among driving forces affecting process of economic development investments of foreign origin and increasing level of education are being distinguished. Insights considering a role of the latter driving forces are being offered.