Journal of Security and Sustainability Issues

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 presents a multidimensional comparative analysis of the exchange rates of five currencies: dollar, euro, franc, pound and ruble in zlotys and crude oil in dollars per barrel from 2005 to 2022. The research was conducted in terms of the identification of contemporary challenges for the economic security of enterprises in Poland. Grouping was used as part of multidimensional comparative analyzes. In the categorized line charts, in order to observe the trends in dynamic terms as a decrease and an increase in the rates of the analyzed data, a separate Y-axis scale was assigned to each of the analyzed dependent variables.

The nature study of customs regulation in modern conditions has lead to the need for theoretical bases and practical recommendations for the implementation of an effective mechanism of the state economic security, because in the context of improving the challenges of globalization, characterized by a simultaneous increase of scales and expansion of geography of international trade and labor migration, openness of national economies, revitalize the integration processes, there is an increased influence on the economic system of the state and society threats in the external environment. The concept of “customs security” is defined at the doctrinal level by covering the scientific approaches to its interpretation, as well as its interpretation at the level of the current Ukrainian legislation. Particular attention is paid to the issues of codification of EU customs legislation. The legal status of The World Customs Organization (WCO) as an independent intergovernmental body and priority areas of activity under the Strategic Plan for the period 2019-2022 have been determined. Despite the implementation of further steps to harmonize Ukrainian customs law with the European, the creation of favorable business conditions for the subjects of foreign economic activity (FEA) justified the expediency of developing a concept of ensuring economic security in the sphere of FEA on the bases of balancing economic interests, which is based on the search for a compromise between the measures of control of revenue and fees to ensure economic security in the sphere of FEA and providing business simplifications taking into account the economic interests.

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.