TRANSFORMATION OF THE EU COUNTRIES TO THE CIRCULAR ECONOMY MODEL

The article is devoted to the research of the transformation of the EU countries to the circular economy model. The concept of the circular economy is based on the approach of closing the production cycle, the extended duration of the exploitation phase of the product life cycle, and the processing of waste as resources subject to secondary use. The circular economy is based on a completely new paradigm, according to which it is necessary to analyze in detail existing economic systems and reorganize them in order to increase the level of efficiency in the use of natural resources, transform waste into resources and introduce a new approach to production and consumption. National circular economy monitoring indicators are adapted to strategies, policies and actions specific to a particular country. This is an obstacle to make comparison between countries. There is no single specific, universally accepted set of indicators or indicators that would measure progress in implementing a circular economy for countries. In order to assess the progress of the countries of the European Union, Great Britain, Norway and Ukraine regarding the implementation of the circular economy, an analysis of 13 indicators, grouped into 4 categories, was carried out, which formed the basis of the creation of the circular economy achievement indicator. A correlation analysis was conducted between the calculated circular economy indicator and the global competitiveness index and a positive correlation (0.665) was obtained. Germany, the United Kingdom, the Netherlands, and Austria were found to be leaders, while Ukraine, Bulgaria, Cyprus, Greece, and Malta were outsiders in the circular economy index and global competitiveness index. Germany, Great Britain, the Netherlands and Austria belong to the group of leaders regarding the implementation of the circular economy and the level of competitiveness. It was proved that integral indices, used in the decision-making process at all levels, can become an important tool for improving the management of the socio-economic development of Ukraine, including the regional context. Their use will help to increase the ratings, prestige and authority of the country on the world stage.