Priorities Of Economic Development Of Ukraine In The Context Of European Integration

The aim of the article. Although a large number of original and meaningful works by both domestic and foreign scientists studied issues on the topic under consideration, it should be noted that the problem of defining profitable spheres in the economy of Ukraine remains poorly researched. This also concerns the definition and development of the specificities of an innovative approach to the Ukrainian economy in the context of European integration and globalization challenges. The subject of the study is the priorities of the economic development of Ukraine in the context of European integration. Methodology. Based on the analysis of laws and regulations of Ukraine and scientific literature, the current economic situation, status of Ukraine, and strategic priorities and goals of Ukrainian economic development are interrogated. The results of the study revealed that nowadays Ukraine declared European integration as a key priority of economic policy. The intention of our state to meet the requirements of the modern world economic system caused the need to develop the integration strategy of Ukraine, it is a way of modernizing the economy, overcoming technological backwardness, attracting foreign investments, applying new technologies, creating new jobs, increasing the competitiveness of domestic commodity producers, entering the world markets. Practical implications. It is proved that presently the institutional transformation of the Ukrainian economy towards its green growth is not determined enough due to imperfections, inconsistencies, and inefficiencies of existing mechanisms. The strategic priorities of the formation of new “green” economic areas and ecological transformation of the economy of existing industries are analysed. Relevance/originality. For Ukraine, the EU is an important strategic partner, including the investment and foreign trade sectors. Therefore, the future of our country in the EU will be determined by signing the Association Agreement. It is proved that the EU as an integration association will hold the status of the leader in international economic relations; therefore, for Ukraine as a European state, an important step is to form a new strategy for economic development of the EU.