SUSTAINABLE DEVELOPMENT OF UKRAINE: ASSESSMENT OF THE DYNAMICS OF KEY INDICATORS AND BUDGETARY INTERCONNECTIONS

Abstract

The article is devoted to a comprehensive analysis of the current state and prospects for achieving the Sustainable Development Goals (SDGs) in the fields of industry, energy, and infrastructure, including social infrastructure. The study employs methods of comparative analysis of the dynamics of the state budget, macroeconomic indicators, and SDG targets, which made it possible to identify key trends, structural imbalances, and the impact of external shocks. The analysis highlights the performance of Ukraine in reaching selected SDGs, such as Affordable and Clean Energy and Industry, Innovation and Infrastructure. Special attention is paid to the correlation between the existing structure of government expenditures and the dynamics of SDG progress. The findings reveal that the country faces significant constraints to sustainable economic development due to limited fiscal space, which is primarily explained by unprecedented defense and social spending, severe degradation of energy infrastructure, and technological backwardness of industry. Furthermore, the national economy remains heavily dependent on external financing, while the growing public debt burden reduces the government’s capacity to invest in long-term development programs. It is argued that fiscal policy must adapt to wartime realities while at the same time ensuring partial integration of sustainable development principles into public finance management. The article outlines the main challenges: the necessity of balancing fiscal consolidation with investment in innovation, the need to modernize industrial capacity, and the importance of diversifying energy sources through renewable technologies. Based on the results of the research, several strategic approaches are proposed for the transformation of fiscal regulation aimed at supporting post-war recovery, strengthening institutional capacity, and achieving sustainable economic growth. These approaches include the creation of self-sufficient high-tech sectors within the national economy, the promotion of public-private partnerships, and the gradual reduction of structural dependence on external financial support. It is concluded that only a balanced, forward-looking fiscal strategy, integrating both adaptive crisis management and long-term structural reforms, can ensure resilience and competitiveness of the Ukrainian economy in the global environment.