Optimizing Financial Management and Administration in Infrastructure Projects for Economic Recovery

  • Authors

    • Svitlana Yudina Department of Finance and Accounting, Dniprovsky State Technical University, Kamianske, Ukraine
    • Hanna Razumova Department of Marketing and Business Administration, Pryazovskyi State Technical University, Dnipro, Ukraine and Dnipropetrovsk Scientific Research Institute of Forensic Expertise of the Ministry of Justice of Ukraine, Dnipro, Ukraine
    • Olena Lysa Department of Finance, Banking and Insurance, Dnipro State Agrarian and Economic University, Dnipro, Ukraine
    • Olena Oskoma Department of Management and Finance, ESI «Ukrainian State University of Chemical Technology», Ukrainian State University of Science and Technologies, Dnipro, Ukraine
    • Volodymyr Zakharchenko Dnipropetrovsk Scientific Research Forensic Center of the Ministry of Internal Affairs of Ukraine, Dnipro, Ukraine
    https://doi.org/10.14419/bk6pnf50

    Received date: April 30, 2025

    Accepted date: June 24, 2025

    Published date: July 3, 2025

  • Budgeting Transparency; International Cooperation; Investment Programs; Resource Provision; Strategic Planning; Infrastructure Recovery
  • Abstract

    The research aimed to establish an organisational and managerial approach to enhance cooperation between financial management and administration in Ukrainian infrastructure projects. The methodology included the analysis of regional statistical data, the comparison of foreign financial management methods, and the evaluation of financial instruments, including public-private partnerships, government bonds, and advanced project management technology. The critical elements examined were financial instruments vital for Ukraine's economic revitalisation, emphasising the attraction of investment via partnerships, bonds, stocks, and shares. The research further investigated how novel technologies improve project transparency and mitigate financial risks. A comparative review of finance procedures in the EU, the US, and Japan identified optimal strategies applicable to Ukraine. The findings pointed to the need for a comprehensive legislative framework to guarantee stability and accountability while promoting public-private partnerships to alleviate risks and enhance cost efficiency. The research emphasised the need to incorporate socio-economic and environmental considerations into project planning and financing to guarantee sustainability and efficacy. The study recommended enhancements to Ukraine's infrastructure finance and administrative processes based on these observations.

  • References

    1. Alekseyenko L, Tulai O & Babii S (2023) Recovery of the economy: Financing and compliance with the principles of transparency in the conditions of geopolitical opposition. World of Finance 2(75), 106-124. https://doi.org/10.35774/sf2023.02.106
    2. Batygin YV, Golovashchenko SF & Gnatov AV (2013) Pulsed electromagnetic attraction of sheet metals - Fundamentals and perspective applica-tions. Journal of Materials Processing Technology 213(3), 444–452.
    3. Brych V, Skrynkovskyy R, Shkvarchuk L, Liakhovych G, Slav'yuk R & Borysiak O (2022) Portfolio Optimization of Equity Funds. In: Proceed-ings - International Conference on Advanced Computer Information Technologies, ACIT (pp. 207–210). Ruzomberok, Slovakia. https://doi.org/10.1109/ACIT54803.2022.9913202
    4. Bulyk O (2023) Strategy for recovery of Ukraine’s economy after the war. Economy and Society 48. https://doi.org/10.32782/2524-0072/2023-48-51
    5. Cheng Q, Chen B & Luo J (2024) The impact of digital tax administration on local government debt: Based on the revision of the tax collection and administration law. Finance Research Letters 67(Part B), 105938. https://doi.org/10.1016/j.frl.2024.105938
    6. Chornovol A, Tabenska J, Tomniuk T & Prostebi L (2020) Public finance management system in modern conditions. Investment Management and Financial Innovations 17(4), 402-410. https://doi.org/10.21511/imfi.17(4).2020.34
    7. Chugunov I, Makogon V, Titarchuk M, Nychyk V & Hrehul V (2024) Financial support for the economy development of Ukraine. Financial and Credit Activity Problems of Theory and Practice 1(54), 307-315. https://doi.org/10.55643/fcaptp.1.54.2024.4253
    8. Damyanov D, Kavaldjieva K, Vlahova B & Lazarov V (2021) Innovation Process and Degree of Innovation and Innovation Activity. In: Interna-tional Conference on High Technology for Sustainable Development, HiTech 2021 - Proceedings. Sofia: Institute of Electrical and Electronics En-gineers. https://doi.org/10.1109/HiTech53072.2021.9614233
    9. Danylenko A & Venger V (2024) Market conditions and the role of the state in post-war economic recovery of Ukraine. Finance of Ukraine 5, 7-32. https://doi.org/10.33763/finukr2024.05.007
    10. de-Almeida-e-Pais JE, Raposo HDN, Farinha JT, Cardoso AJM, Lyubchyk S & Lyubchyk S (2023) Measuring the Performance of a Strategic As-set Management Plan through a Balanced Scorecard. Sustainability (Switzerland) 15(22), 15697. https://doi.org/10.3390/su152215697
    11. Drive Ukraine 2030 (2024) Available at: https://mtu.gov.ua/files/projects/str.html
    12. Drobiazko A, Kaminska O & Borshchuk O (2023) Credit portfolio of Ukrainian banks: Analysis of the impact of martial law. Finance of Ukraine (7), 99-112. https://doi.org/10.33763/finukr2023.07.099
    13. Drobot I & Yasinskyj V (2023) Organisational support for the development of public-private partnership. Democratic Governance 16(2), 114-125. https://doi.org/10.23939/dg2023.02.114
    14. Dugbartey AN & Kehinde O (2025) Optimizing project delivery through agile methodologies: Balancing speed, collaboration and stakeholder en-gagement. World Journal of Advanced Research and Reviews 25(01), 1237-1257. https://doi.org/10.30574/wjarr.2025.25.1.0193
    15. EIB, World Bank Group & EBRD (2015) Exceed Financing Targets for Central and South Eastern Europe. Available at: https://www.worldbank.org/en/news/press-release/2015/06/02/eib-world-bank-group-and-ebrd-exceed-financing-targets-for-central-and-south-eastern-europe
    16. Garafonova O, Yankovoi R, Zhosan H, Lomachynska I, Ananiev M & Dvornyk I (2023) International experience in applying innovative financial management strategies for business revitalization in the post-war period in Ukraine. Financial and Credit Activity Problems of Theory and Practice 6(53), 43-57. https://doi.org/10.55643/fcaptp.6.53.2023.4140
    17. Gazuda M, Tyukhtenko N, Lomachynska I, Dunai M, Vernydub V & Babich R (2025) The impact of digitalization and e-governance on transfor-mation of state management mechanisms of the regional development. Journal of Theoretical and Applied Information Technology 103(3), 956–968. https://www.jatit.org/volumes/Vol103No3/14Vol103No3.pdf
    18. Grytsenko A, Bilorus O, Burlay T, Podliesna V & Borzenko O (2024) Ukraine’s economy: Resilience under war and challenges for post-war recov-ery. Science and Innovation 20(5), 16-34. https://doi.org/10.15407/scine20.05.016
    19. Herus O (2024). Peculiarities of investment support for industries in the current environment. Economics, Entrepreneurship, Management 11(1), 57-66. https://doi.org/10.56318/eem2024.01.057
    20. Horoshkova L & Sumets A (2022) Experience of the eventual model application for logistics infrastructure assets’ location in Ukraine and its re-gions. University Economic Bulletin 17(2), 152-170. https://doi.org/10.31470/2306-546X-2022-53-152-170
    21. Jóźwiak E (2023) Exercising management control in the Polish public finance system. Krytyka Prawa 15(2), 39-53. https://doi.org/10.7206/kp.2080-1084.593
    22. Kavaldzhieva K (2019) The Impact of Digitalization on the Measurement of value in the production and operation of industrial products. In: 2019 International Conference on High Technology for Sustainable Development, HiTech 2019 (Article number: 9128260). Sofia: Institute of Electrical and Electronics Engineers. https://doi.org/10.1109/HiTech48507.2019.9128260
    23. Ketners K, Jarockis A & Petersone M (2024) State budget system improvement for informed decision-making in Latvia. Scientific Bulletin of Mukachevo State University. Series Economics 11(3), 86–99. https://doi.org/10.52566/msu-econ3.2024.86
    24. KSE Economy Recovery Lab (2025) Available at: https://kse.ua/UA_Macro_Handbook_Jan2025.pdf
    25. Kudrjashov V (2024) Financial support for the recovery of Ukraine’s economy. Finance of Ukraine 5, 33-50. https://doi.org/10.33763/finukr2024.05.033
    26. Kuznetsov BI, Nikitina TB & Bovdui IV (2020) Multiobjective synthesis of two degree of freedom nonlinear robust control by discrete continuous plant. Technical Electrodynamics 2020(5), 10–14. https://doi.org/10.15407/techned2020.05.010
    27. Leontyev A & Ketners K (2023) The improvement of decision-making in the latvian tax system: cases of irreducible incompatibility taking into ac-count reliability, equity and efficiency criteria. Intellectual Economics 17(2), 322–343. https://doi.org/10.13165/IE-23-17-2-04
    28. Matviichuk L, Liutak O, Dashchuk Y, Lepkiy M & Sidoruk S (2023) Information system for diagnostic competitiveness of the hospitality industry of the regions of Ukraine. Informatyka, Automatyka, Pomiary w Gospodarce i Ochronie Srodowiska 13(4), 132–138. https://doi.org/10.35784/iapgos.5394
    29. Ministry of Finance of Ukraine (2025) Gross domestic product (GDP) in Ukraine 2025. https://index.minfin.com.ua/ua/economy/gdp/
    30. Mukanov A, Saduov A, Akbayev Y, Dulatbekova Z, Ospanova A, Selezneva I, Madiyarova E & Jempeissova G (2018) Composing of scenarios development in strategic planning. Journal of Environmental Management and Tourism 9(3), 491-500. https://doi.org/10.14505/jemt.v9.3(27).09
    31. Multilateral Development Banks (2024) Deepen Collaboration to Deliver as a System. Available at: https://www.worldbank.org/en/news/statement/2024/04/20/multilateral-development-banks-deepen-collaboration-to-deliver-as-a-system
    32. Naumenkova S, Tishchenko I, Mishchenko V & Mishchenko S (2024) Rethinking energy poverty alleviation through energy efficiency: Evidence from Ukraine. Environmental Economics 15(2), 198–214. https://doi.org/10.21511/ee.15(2).2024.14
    33. Novikova I, Zabarna E, Volkova O, Fedotova I & Korolkov V (2023) Economic prospects of post-war recovery: Challenges and opportunities for sustainable development in Ukraine. Financial and Credit Activity Problems of Theory and Practice 3(50), 298-307. https://doi.org/10.55643/fcaptp.3.50.2023.4091
    34. Operational Data Portal: Ukraine Refugee Situation (2024) Available at: https://data.unhcr.org/en/situations/ukraine
    35. Orel Y, Prochan A & Nesterenko O (2024) Prospects for the post-war recovery of Ukraine’s economy: today's realities. Academic Visions 31.
    36. Panchenko A, Voloshina A, Antoshchenkov R, Halych I & Głowacki S (2024) Experimental Studies of the Wear on the Rotors’ Working Surfaces of a Planetary Hydraulic Motor. In: Lecture Notes in Mechanical Engineering (pp. 498–508). Springer, Cham. https://doi.org/10.1007/978-3-031-42778-7_46
    37. Petrukha N, Klymenko K, Petrukha S & Miakota R (2024) Orthodox-innovative exposition of financial mechanisms of the post-war reconstruction of the economy of Ukraine. Economics, Finance and Management Review 2(18), 101-120. https://doi.org/10.36690/2674-5208-2024-2-101-120
    38. Petrunenko Y (2024) Socio-economic factors of recovery of Ukraine after the victory. Scientific Notes of Taurida National V.I. Vernadsky Univer-sity Series Juridical Sciences 35(74), 68-75. https://doi.org/10.32782/tnu-2707-0581/2024.3/11
    39. Prabawa A & Purwanti D (2024) The effect of national economic recovery on the financial performance during the Covid-19 pandemic. Research: Journal of Accounting and Business Economics Applications 6(1), 16-31. https://doi.org/10.37641/riset.v6i1.2073
    40. Puchkovska GO, Danchuk VD, Kravchuk AP & Kukielski JI (2004) About the nature of phase transition in pure n-paraffin crystals. Journal of Mo-lecular Structure 704(1-3), 119–123. https://doi.org/10.1016/j.molstruc.2003.12.063
    41. Resolution of the Cabinet of Ministers of Ukraine No. 854 (2024) On the Implementation of a Pilot Project on the Functioning of the Tax Risk Management System (Compliance Risk Management) in the State Tax Service. Available at: https://ips.ligazakon.net/document/KP240854?an=2
    42. Rivero del Paso L, Pattanayak S, Uña G & Tourpe H (2023) Digital solutions guidelines for public financial management. Technical Notes and Manuals 2023(007), A001. https://doi.org/10.5089/9798400251566.005.A001
    43. Rogovyi A, Khovanskyy S, Grechka I & Pitel J (2020) The wall erosion in a vortex chamber supercharger due to pumping abrasive mediums. In: Lecture Notes in Mechanical Engineering (pp. 682–691). Springer, Cham. https://doi.org/10.1007/978-3-030-22365-6_68
    44. Rogovyi A, Korohodskyi V, Khovanskyi S, Hrechka I & Medvediev Y (2021) Optimal design of vortex chamber pump. Journal of Physics: Con-ference Series 1741(1), 012018.
    45. Second Ukraine Rapid Damage and Needs Assessment (RDNA2) (2023) February 2022 – February 2023. Available at: https://documents.worldbank.org/en/publication/documents-reports/documentdetail/099184503212328877/p1801740d1177f03c0ab180057556615497
    46. Shahini E & Shtal T (2023) Assessment of the level of competitiveness of Ukrainian agricultural holdings in international markets. Ekonomika APK 30(6), 45–56. https://doi.org/10.32317/2221-1055.202306045
    47. Shtal T, Davydova O, Sysoieva S, Logvinkov S & Zhukov V (2024) Innovative risk management in the hotel and restaurant business: Scientific and practical aspect. Scientific Bulletin of Mukachevo State University. Series Economics 11(2), 116–125. https://doi.org/10.52566/msu-econ2.2024.116
    48. Shtal T, Ptashchenko O, Rodionov S & Kurtsev O (2023) Implementation of modern marketing tools in entrepreneurial activity. Economics of De-velopment 22(4), 53–63. https://doi.org/10.57111/econ/4.2023.53
    49. Strilets S (2022) 5 priority directions in the field of environmental security have been identified for the Recovery Plan of Ukraine. Available at: https://www.kmu.gov.ua/news/ruslan-strilec-viznacheno-5-prioritetnih-napryamkiv-u-sferi-ekologichnoyi-bezpeki-dlya-planu-vidnovlennya-ukrayini
    50. Support to the Economic Recovery of Ukraine (2024) Key Parameters of the Offer. Available at: https://www.undp.org/sites/g/files/zskgke326/files/2024-02/undp-ua-ukraine-ser.pdf
    51. Telfah S, Chau KY, Tran TK, Bui AT, Tai NT & Phan TTH (2023) Role of financial markets and natural resource utilization in green economic re-covery: Evidence from selected developing economies. Resources Policy 83, 103761. https://doi.org/10.1016/j.resourpol.2023.103761
    52. Tkachenko S (2024) Post-war economic recovery in Ukraine: Problems, risks and ways. Economies Horizons 2-3(28), 4-13. https://doi.org/10.31499/2616-5236.2(28).2024.300402
    53. Tsiatkovska O, Prymachenko O, Lezhnenko L, Feshchenko Y & Mykhalska O (2024) Accounting for non-financial assets in the public finance management system in Ukraine during the conflict. Theoretical and Practical Research in Economic Fields 15(2), 245-255. https://doi.org/10.14505/tpref.v15.2(30).08
    54. Turchak DV (2023) Peculiarities of applying mechanisms for the restoration and development of territories in accordance with functional types. So-cio-Economic Problems of the Modern Period of Ukraine 6(164), 10-15. https://doi.org/10.36818/2071-4653-2023-6-2
    55. Tyukhtenko NA & Makarenko SM (2016) Economic and mathematic models for staff planning at enterprises of all ownership forms. Actual Prob-lems of Economics 175(1), 435–442.
    56. Umair M & Dilanchiev A (2022) Economic recovery by developing business strategies: Mediating role of financing and organizational culture in small and medium businesses. Available at: https://www.researchgate.net/publication/361593244_Economic_Recovery_by_Developing_Business_Starategies_Mediating_Role_of_Financing_and_Organizational_Culture_in_Small_and_Medium_Businesses
    57. Zayats D (2024) Decentralisation reform in Ukraine: Achievements and implementation prospects amidst war conditions. Democratic Governance 17(2), 5-17. https://doi.org/10.56318/dg/2.2024.05
  • Downloads

  • How to Cite

    Yudina, S., Razumova, H., Lysa, O., Oskoma, O., & Zakharchenko, V. (2025). Optimizing Financial Management and Administration in Infrastructure Projects for Economic Recovery. International Journal of Accounting and Economics Studies, 12(2), 337-346. https://doi.org/10.14419/bk6pnf50