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.

The article aims to identify destabilizing factors of economic security and to elaborate recommendations aimed to improve the efficiency of the development of Kazakh enterprises. The authors have used methods of theoretical research, analysis and synthesis, as well as methods of concretization and analogy and an expert survey conducted with their direct participation.Results of the conducted research show that there is a relatively favorable economic environment in industrial production in the Republic of Kazakhstan. However, according to the expert survey, business activity, liquidity and profitability have been falling at many industrial concerns. Among destabilization factors restricting the operation of industrial enterprises, the following dominate: insufficient demand for manufactured products, deficit of own financial resources, tougher market competition and macroeconomic uncertainty. Even though this study mainly covers a range of issues related to Kazakhstan, its conclusions are of interest for the development of an economic strategy at enterprises that operate in other emerging economies.

The Eurasian Economic Union (EAEU) system of the economic security is required to form the path of efficient development of the Common Economic Space (CES). The aim of the study is to quantify economic security and develop measures to ensure macroeconomic stability of the EAEU member states. The index estimation method, cross-country comparisons of indicators, and the expert ranking method were selected for research. The authors’ method of calculating the integral index of economic security of an integration association has been presented, which includes three groups of indicators: development of the national economy, social and financial security. The results of the analysis have revealed that the highest level of economic security has been established in the Russian Federation and the Republic of Belarus. However, low GDP per capita in all EAEU countries, as well as low rates of GDP growth, production, industrial production, and value added in agriculture and gross capital formation in the largest EAEU member state – the Russian Federation, and a large volume of foreign currency borrowings in Belarus and Kyrgyzstan affect the level of economic security of the integration association. The most important threats to economic security have been identified as a result of expert ranking: tougher sanctions, depreciation of national currencies, and spontaneous migration processes. The results of the study allow the authors to conclude that measures must be developed to coordinate monetary policies, as well as to expand integration in the social and labor spheres.

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.