IMPACT OF GLOBAL ECONOMIC CRISES ON CIRCULAR ECONOMY DEVELOPMENT STRATEGIES

The paradigm of modern global socio-economic development is built on the basis of economic, social and environmental aspects. Under such conditions, the issue of nature conservation, environmental protection and reduction of harmful substances emissions is becoming more relevant. Accordingly, the main direction for achieving the fundamentals and principles of sustainable development is the transition from a linear model of the economy to a circular one in the face of economic uncertainty. Thus, the purpose of the study is to analyse the impact of global economic crises on the development of a circular economy strategy, as well as to justify the need for transition to a circular economy model. To achieve this goal, the study defines the essence and significance of the circular economy model, describes the main strategies of the circular economy, substantiates the impact of globalisation and economic crises on the transition to a circular economy model, and uses analytical data to assess the current state of implementation of the circular economy principles by countries around the world. To make the study more thorough, the authors assessed the current state of waste generation in the regional context of the world and analysed the household waste recycling rate in the European Union. The study also identified a number of countries where the implementation of the principles of the circular economy model is at a high level. In order to implement the best practices of circular economy implementation, the current state of waste generation and recycling in Ukraine is studied. The existing regulatory framework, which is the basis for the implementation of the circular economy, and existing examples of the circular waste recycling mechanism in Ukraine are identified. Based on the results of the study, the author provides recommendations that are a priority for the global and Ukrainian economic model, which will strengthen the mechanisms and tools for implementing the circular economy model in the current global economic system.