Economic essence of sustainable development of industry in Ukraine

Today the challenges of sustainable development occupy an increasingly prominent place in macroeconomic studies of both foreign and domestic scientists. This is due to the need to increase the volume of consumer goods produced by humankind to meet the ever growing needs. But the reduction of non-renewable resources has led the humanity to implementation of conservation practices and savings. The purpose of this paper is to justify the Ukraine’s transition to "sustainable" or fully balanced development. Currently sustainable development is separately marked out. Sustainable development from a simple kind of economic development has become a promising ideology of the 21st century. However, the country’s sustainable development is not possible without a stable operation of its businesses and organizations. At first glance in budgeting for sustainable development of the company it seems attractive to use the company’s own funds. Yet in most cases the market economy generates an objective need for industrial enterprises to use borrowed financial resources for ensuring the sustainable development. One of the forms of such borrowed resources is a loan. Consequently, there is a need to ensure the sustainable development of industry in Ukraine. In order to enter into the circle of developed countries our country has to track the progress of global processes, and consider their main tendencies. While the world’s leading countries widely use the opportunities for sustainable economic development and form the post-industrial society, the Ukrainian industry is predominantly based on traditional technologies stemmed from the early stages of industrialization. However, the strong potential of the domestic industry gives Ukraine a significant competitive advantage in the global market and it is a prerequisite to its sustainable economic development.