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The aggressive invasion of the russian federation accumulated Ukrainian society and business in particular. External threats did not live up to the expectations of the bloody neighbour, who was betting on the economic collapse of Ukraine and, as a result, the collapse of our society. Accordingly, the purpose of this study is a systematic analysis of the main factors of the decline in economic indicators since the beginning of the fullscale invasion and the determination of means and mechanisms for overcoming the economic crisis, in particular by making effective state decisions. The analysis of foreign publications gave a clear understanding that the economic situation in Ukraine has a direct impact on the international economy and world geopolitics. In this study, the main factors that influenced the fall of GDP in Ukraine in 2022 and the circumstances that caused its stabilization were analyzed, individual branches of the economy, which, despite the devastating economic losses, showed resistance to the challenges of the war, were singled out. A separate assessment is given to the IT industry, which in modern realities has turned out to be the most adaptable for Ukraine. This led to the conclusion that the future of Ukraine lies in digital transformations with gradual integration into the smart economy. At the same time, in the course of the study, the specific stages that Ukraine must go through on the way to its economic recovery were determined, and the negative factors that prevent it even today were singled out. In particular, it was unequivocally established that corruption is a key inhibiting element of Ukraine's economy, it existed before the war and exists now, but it must disappear after the war, as its existence will reduce to zero the prospects of creating a legal, economically stable society and make real Ukrainian integration to the European community impossible. [ABSTRACT FROM AUTHOR]