Cyber threats as a challenge to economic security: the potential of Ukraine’s technological infrastructure

Authors

DOI:

https://doi.org/10.26906/EiR.2025.2(97).3857

Keywords:

economic security, cyber threats, cyber fraud, technological resources, technological potential, digitalization, digital transformation, threats

Abstract

The article explores the growing impact of cyber threats on economic security amid the digital transformation of national economies and increasing reliance on information and communication technologies. This study emphasizes the importance of national technological infrastructure as a key enabler in strengthening cyber resilience and ensuring the stability of digital environments under conditions of hybrid threats. Using internationally recognized metrics such as the Global Cybersecurity Index (GCI) and the National Cyber Security Index (NCSI), the paper evaluates Ukraine’s current institutional and infrastructural readiness to resist cyberattacks. It highlights key areas of progress, such as improvements in technical measures and public policy development, as well as persistent vulnerabilities in organizational coordination and capacity building. The article offers a clarified definition of technological infrastructure and presents a comprehensive overview of its key components, based on international frameworks and academic sources. These include telecommunication networks, data centres, cloud services, internet exchange points (IXPs), cybersecurity response institutions (e.g., CERT-UA), and core government digital platforms. The current state and development dynamics of these components in Ukraine are analysed in detail, with emphasis on their relevance for effective threat detection, real-time incident response, and business continuity support. Furthermore, the article examines the strategic potential of Ukraine’s technological infrastructure to adapt to increasingly sophisticated and large-scale cyberattacks. Particular attention is given to the functional resilience of decentralized digital public services, the expansion of broadband infrastructure, and the operational readiness of national and sectoral CERT teams. The paper also identifies several critical constraints, including insufficient 5G deployment, reliance on imported equipment, lack of sovereign cloud capacity, and the need for systemic support for domestic cybersecurity innovations.

Author Biographies

Olena Pakhnenko, Sumy State University

PhD in Economics, Associate Professor, Associate Professor of the Department of Financial Technologies and Entrepreneurship

Mykola Bozhko, Sumy State University

Postgraduate Student

References

1. Стендер С. В., Фротер О. С., Снітко Ю. М. Цифрова інтеграція та кіберзахист економіки України: правові аспекти та інноваційні стратегії. Академічні візії. 2023. № 26. URL: https://academy-vision.org/index.php/av/article/view/799 (дата звернення: 21.04.2025)

2. Чайкіна А., Маслій О., Черв’як А. Сучасні драйвери підвищення економічної безпеки країни в умовах цифрової трансформації. Сталий розвиток економіки. 2024. № 2(49). С. 307–313. DOI: https://doi.org/10.32782/2308-1988/2024-49-49

3. Жукова Ю., Василенко В., Юрченко О. Стратегії забезпечення економічної безпеки країни в умовах глобальних викликів. Herald of Khmelnytskyi National University. Economic Sciences. 2024. № 328(2). С. 401–409. DOI: https://doi.org/10.31891/2307-5740-2024-328-60

4. Череп А., Череп О., Гельман В., Лосєва Е. Європейські вектори цифровізації економіки задля забезпечення національної безпеки держави. Молодий вчений. 2023. № 11 (123). С. 163–167. DOI: https://doi.org/10.32839/2304-5809/2023-11-123-6

5. Бензарь А., Пєстова О. Проблеми та перспективи розвитку цифрової економіки в Україні. Цифрова економіка та економічна безпека. 2022. № 2 (02). С. 148–155. DOI: https://doi.org/10.32782/dees.2-25

6. Кіндзерський Ю. В. Кібербезпека та становлення цифрової економіки: проблеми взаємозв’язку. Економічний вісник Дніпровської політехніки. 2020. №3. С. 18–26. DOI: https://doi.org/10.33271/ebdut/71.018

7. Пічкурова З. Розвиток цифрової економіки України в умовах воєнного стану. Економіка та суспільство. 2023. № 58. DOI: https://doi.org/10.32782/2524-0072/2023-58-73

8. Березівський Я. П. Ідентифікація умов та чинників формування технологічної конкурентоспроможності національної економіки. Вісник Львівського торговельно-економічного університету. Економічні науки. 2021. № 64. С. 31–35. DOI: https://doi.org/10.36477/2522-1205-2021-64-05

9. Kolodynskyi S., Drakokhrust T., Bashynska M. The innovative infrastructure of economic development in the framework of international digital transformation. Baltic Journal of Economic Studies. 2018. Vol. 4 (4). P. 166–172. DOI: https://doi.org/10.30525/2256-0742/2018-4-4-166-172

10. Juneja A., Goswami S. S., Mondal S. Cyber Security and Digital Economy: Opportunities, Growth and Challenges. Journal of Technology Innovations and Energy. 2024. Vol. 3(2). P. 1–22. DOI: https://doi.org/10.56556/jtie.v3i2.907

11. Lesmana D., Afifuddin M., Adriyanto A. Challenges and Cybersecurity Threats in Digital Economic Transformation. International Journal of Humanities Education and Social Sciences (IJHESS). 2023. Vol. 2 (6). DOI: https://doi.org/10.55227/ijhess.v2i6.515

12. Valackiene A., Odejayi R.O. The impact of cyber security management on the digital economy: multiple case study analysis. Intellectual Economics. 2024. Vol. 18 (2). P. 261–283. DOI: https://doi.org/10.13165/IE-24-18-2-02

13. Chen X., Wang T., Lin X., Hinde D., Yan Q., Zmire Z. The Potential of the Digital Economy: A Comparative Assessment of Key Countries’ Cybersecurity. International Journal of Education and Humanities. 2023. Vol. 11 (1). P. 1–7. DOI: https://doi.org/10.54097/ijeh.v11i1.12740

14. Cremer F., Sheehan B., Fortmann M., Kia A. N., Mullins M., Murphy F., Materne S. Cyber risk and cybersecurity: a systematic review of data availability. Geneva Papers on Risk and Insurance: Issues and Practice. 2022. Vol. 47(3). P. 698–736. DOI: https://doi.org/10.1057/s41288-022-00266-6

15. Aldasoro I., Doerr S., Gambacorta L., Notra S., Oliviero T., Whyte D. Generative Artificial Intelligence and Cyber Security in Central Banking. Journal of Financial Regulation. 2025. Vol. 11(1). P. 119–128. DOI: https://doi.org/10.1093/jfr/fjae008

16. Safitra M. F., Lubis M., Fakhrurroja H. Counterattacking Cyber Threats: A Framework for the Future of Cybersecurity. Sustainability (Switzerland). 2023. Vol. 15(18). DOI: https://doi.org/10.3390/su151813369

17. Global Cybersecurity Index 2020: Measuring commitment to cybersecurity. International Telecommunication Union. Geneva, 2021. URL: https://www.itu.int/epublications/publication/D-STR-GCI.01-2021-HTM-E (дата звернення: 21.04.2025)

18. Global Cybersecurity Index 2024: 5th Edition. International Telecommunication Union. Geneva, 2021. URL: https://www.itu.int/epublications/publication/global-cybersecurity-index-2024 (дата звернення: 21.04.2025).

19. National Cyber Security Index. e-Governance Academy Foundation, 2025. URL: https://ncsi.ega.ee/ncsi-index/ (дата звернення: 21.04.2025).

20. Country Reports: Ukraine. Internet Society Pulse. URL: https://pulse.internetsociety.org/en/reports/ua/ (дата звернення: 21.04.2025).

21. Про CERT-UA. Computer Emergency Response Team of Ukraine. URL: https://cert.gov.ua/about-us (дата звернення: 21.04.2025).

1. Stender S.V., Froter O.S., Snitko Yu.M. (2023). Tsyfrova intehratsiia ta kiberzakhyst ekonomiky Ukrainy: pravovi aspekty ta innovatsiini stratehii [Digital integration and cyber protection of the Ukrainian economy: legal aspects and innovative strategies]. Academic Visions, vol. 26. Available at: https://academy-vision.org/index.php/av/article/view/799 (accessed: April 21, 2025)

2. Chaykina A., Masliy O., Chervyak A. (2024). Suchasni drayvery pidvyshchennya ekonomichnoyi bezpeky krayiny v umovakh tsyfrovoyi transformatsiyi [Modern drivers of increasing the country's economic security in the context of digital transformation]. Sustainable Development of Economy, vol. 2(49), pp. 307–313. DOI: https://doi.org/10.32782/2308-1988/2024-49-49 DOI: https://doi.org/10.32782/2308-1988/2024-49-49

3. Zhukova Y., Vasylenko V., Yurchenko О. (2024). Stratehii zabezpechennia ekonomichnoi bezpeky krainy v umovakh hlobalnykh vyklykiv [Strategies for ensuring economic security of the country under global challenges]. Herald of Khmelnytskyi National University. Economic Sciences, vol. 328 (2), pp. 401–409. DOI: https://doi.org/10.31891/2307-5740-2024-328-60 DOI: https://doi.org/10.31891/2307-5740-2024-328-60

4. Cherep A., Cherep O., Helman V., Losieva E. (2023). Yevropeyski vektory tsyfrovizatsiyi ekonomiky zadlya zabezpechennya natsionalnoyi bezpeky derzhavy [European vectors of economic digitalization for ensuring the national security of the state]. Young Scientist, vol. 11 (123), pp. 163–167. DOI: https://doi.org/10.32839/2304-5809/2023-11-123-6 DOI: https://doi.org/10.32839/2304-5809/2023-11-123-6

5. Benzar A., Piestova O. (2022). Problemy ta perspektyvy rozvytku tsyfrovoi ekonomiky v Ukraini [Problems and prospects of the development of the digital economy in Ukraine]. Digital Есопоmу and Economic Security, vol. 2 (02), pp. 148–155. DOI: https://doi.org/10.32782/dees.2-25 DOI: https://doi.org/10.32782/dees.2-25

6. Kindzerskyi Yu. V. (2020). Kiberbezpeka ta stanovlennia tsyfrovoi ekonomiky: problemy vzaiemozviazku [Cybersecurity and becoming of the digital economy: problems of interconnection]. Economics Bulletin of Dnipro University of Technology, vol. 3, pp. 18–26. DOI: https://doi.org/10.33271/ebdut/71.018 DOI: https://doi.org/10.33271/ebdut/71.018

7. Pichkurova Z. (2023). Rozvytok tsyfrovoi ekonomiky Ukrainy v umovakh voiennoho stanu [Development of Ukraine’s digital economy under martial law]. Economy and Society, vol. 58. DOI: https://doi.org/10.32782/2524-0072/2023-58-73 DOI: https://doi.org/10.32782/2524-0072/2023-58-73

8. Berezivsky Ya. P. (2021). Identyfikatsiia umov ta chynnykiv formuvannia tekhnolohichnoi konkurentospromozhnosti natsionalnoi ekonomiky [Identification of conditions and factors of formation of technological competitiveness of the national economy]. Herald of Lviv University of Trade and Economics. Economic Sciences, vol. 64, pp. 31–35. DOI: https://doi.org/10.36477/2522-1205-2021-64-05 DOI: https://doi.org/10.36477/2522-1205-2021-64-05

9. Kolodynskyi S., Drakokhrust T., Bashynska M. (2018). The innovative infrastructure of economic development in the framework of international digital transformation. Baltic Journal of Economic Studies, vol. 4 (4), pp. 166–172. DOI: https://doi.org/10.30525/2256-0742/2018-4-4-166-172 DOI: https://doi.org/10.30525/2256-0742/2018-4-4-166-172

10. Juneja A., Goswami S. S., Mondal S. (2024). Cyber Security and Digital Economy: Opportunities, Growth and Challenges. Journal of Technology Innovations and Energy, vol. 3(2), pp. 1–22. DOI: https://doi.org/10.56556/jtie.v3i2.907 DOI: https://doi.org/10.56556/jtie.v3i2.907

11. Lesmana D., Afifuddin M., Adriyanto A. (2023). Challenges and Cybersecurity Threats in Digital Economic Transformation. International Journal of Humanities Education and Social Sciences (IJHESS), vol. 2 (6). DOI: https://doi.org/10.55227/ijhess.v2i6.515 DOI: https://doi.org/10.55227/ijhess.v2i6.515

12. Valackiene A., Odejayi R.O. (2024). The impact of cyber security management on the digital economy: multiple case study analysis. Intellectual Economics, vol. 18 (2), pp. 261–283. DOI: https://doi.org/10.13165/IE-24-18-2-02 DOI: https://doi.org/10.13165/IE-24-18-2-02

13. Chen X., Wang T., Lin X., Hinde D., Yan Q., Zmire Z. (2023). The Potential of the Digital Economy: A Comparative Assessment of Key Countries’ Cybersecurity. International Journal of Education and Humanities, vol. 11 (1), pp. 1–7. DOI: https://doi.org/10.54097/ijeh.v11i1.12740 DOI: https://doi.org/10.54097/ijeh.v11i1.12740

14. Cremer F., Sheehan B., Fortmann M., Kia A. N., Mullins M., Murphy F., Materne S. (2022). Cyber risk and cybersecurity: a systematic review of data availability. Geneva Papers on Risk and Insurance: Issues and Practice, vol. 47(3), pp. 698–736. DOI: https://doi.org/10.1057/s41288-022-00266-6 DOI: https://doi.org/10.1057/s41288-022-00266-6

15. Aldasoro I., Doerr S., Gambacorta L., Notra S., Oliviero T., Whyte D. (2025). Generative Artificial Intelligence and Cyber Security in Central Banking. Journal of Financial Regulation, vol. 11(1), pp. 119–128. DOI: https://doi.org/10.1093/jfr/fjae008 DOI: https://doi.org/10.1093/jfr/fjae008

16. Safitra M. F., Lubis M., Fakhrurroja H. (2023). Counterattacking Cyber Threats: A Framework for the Future of Cybersecurity. Sustainability (Switzerland), vol. 15(18). DOI: https://doi.org/10.3390/su151813369 DOI: https://doi.org/10.3390/su151813369

17. Global Cybersecurity Index 2020: Measuring commitment to cybersecurity. International Telecommunication Union. Geneva, 2021. Available at: https://www.itu.int/epublications/publication/D-STR-GCI.01-2021-HTM-E (accessed: April 21, 2025).

18. Global Cybersecurity Index 2024: 5th Edition. International Telecommunication Union. Geneva, 2021. Available at: https://www.itu.int/epublications/publication/global-cybersecurity-index-2024 (accessed: April 21, 2025).

19. National Cyber Security Index. e-Governance Academy Foundation, 2025. Available at: https://ncsi.ega.ee/ncsi-index/ (accessed: April 21, 2025).

20. Country Reports: Ukraine. Internet Society Pulse. Available at: https://pulse.internetsociety.org/en/reports/ua/ (accessed: April 21, 2025).

21. Pro CERT-UA [About CERT-UA]. Computer Emergency Response Team of Ukraine. Available at: https://cert.gov.ua/about-us (accessed: April 21, 2025).

Published

2025-06-24

How to Cite

Pakhnenko, O., & Bozhko, M. (2025). Cyber threats as a challenge to economic security: the potential of Ukraine’s technological infrastructure. Economics and Region, (2(97), 191–197. https://doi.org/10.26906/EiR.2025.2(97).3857

Issue

Section

ECONOMIC SECURITY OF UKRAINE

Most read articles by the same author(s)