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On June 1, the second round of presidential elections was held in Poland, in which the candidate from the right-wing Law and Justice (PiS) party, Karol Nawrocki, won the elections with 50.89% of voters supporting him. He opposes Ukraine’s accession to NATO and the EU until the issue of the Volyn tragedy is resolved. He also stated that he would not allow Polish soldiers to be sent to Ukraine but will “send Polish entrepreneurs when Ukraine is rebuilt.” Nawrocki emphasized

Since the start of 2025, Ukrainians have entered into more than 2.17 million agreements with microfinance organizations (MFIs) for a total of almost ₴13B. Microloans increased by 8%, but the average loan amount decreased for the first time in two years (-2%) to ₴5,858. Prior to this, the average amount had consistently been rising, reports Opendatabot. Additionally, as of early April 2025 Ukrainians owed MFIs nearly ₴24.3B ($570M), which is 100% more than at the start of the full-scale war.

The Ministry of Finance of Ukraine is approaching the preparation of the state budget for 2026 from the most cautious position: The simplest option is to plan for the war to persist for the entire year, said head of the Ministry of Finance Serhiy Marchenko. According to him, in the long term this is the only appropriate strategy to maintain the state’s economic stability. Marchenko noted that securing external financing for 2025 was easier thanks to the G7’s ERA initiative,

BGV Group Management has authorized five energy projects. Additionally, the company is gearing up to launch an energy service company, which will allow it to tap into the promising market for enhancing utility network energy efficiency. The utility infrastructure market, particularly for water, heating, power utilities, and water pipelines, is valued in the tens of billions of hryvnias, as stated by Oleksiy Tymofeyev, a BGV Group Management board member. The company is presently running pilot projects across all identified areas,

In Q1 2025, large and medium-sized businesses reported a total financial outcome of ₴241.2B, ₴12.4B or 4.9% lower than the previous year’s figure of ₴253.6B for the same period. Approximately 38% of the total positive financial outcome was driven by industrial enterprises, contributing ₴91.5B, while the financial and banking sector added another 30.2% with ₴72.9B. Enterprises reporting a positive result in Q1 generated a total profit of ₴304.6B, a decrease of 4.7%. Conversely, the total losses for those with negative

This year, Ukraine’s agricultural sector expects a decrease in the gross harvest of grain and industrial crops by approximately 10% compared to last year, said Pavlo Koval, Director General of the Ukrainian Agrarian Confederation. “Reseeding of part of the area, reduction in the sowing of certain crops and difficult weather conditions will affect the reduction in the gross harvest,” he added. This year, the area for soybeans has decreased, and the area for sugar beets has been reduced to approximately

Mineral water producer Karpatska Dzherelna, a subsidiary of Karpatski Mineralni Vody, has begun construction on a new facility near the village of Khmeleva. The enterprise’s area will cover approximately 15,000 square meters and employ up to 100 people. The plant’s planned capacity is 32,000 bottles per hour. It will produce the complete line of the Karpatska Dzherelna brand (including carbonated and non-carbonated water in various container sizes) along with sweet drinks. This will be the company’s second facility in the

In the first quarter of 2025, capital investment in Ukraine increased by 32.5% compared to the same period last year, but this figure failed to reach the level of the fourth quarter of 2024 (48.1%), said the state’s statistical office. Over three months, ₴123.8B ($3B) of capital investment was utilized. The primary source of financing remained the internal funds of enterprises and organizations, accounting for 77.1% of the total volume. The state budget’s share was 3.5%, funds from consumers for

According to the NBU, in May businesses delivered positive evaluations of their own economic performance. For the first time since May 2024, enterprises from all sectors anticipated growth. In May 2025, the business activity expectations index was 50.8, compared to 49.4 in April 2025, and was higher than the level recorded in May 2024 (48). The following factors positively influenced enterprise expectations: vibrant consumer demand stable conditions in the energy sector receipt of international financial aid seasonal influences However, expectations

Kyiv launched an impressive large-scale drone assault targeting Russian military bombers in Siberia, hitting more than 40 aircraft thousands of kilometers from Ukraine’s borders. The destroyed aircraft reportedly includes the Tu-95 and Tu-22 M3 long-range bombers, capable of carrying conventional and nuclear weapons, as well as the A-50, used by Russia to launch long-range missiles at Ukrainian cities. The SBU, Ukrainian special forces, initially smuggled the drones into Russia, later hiding them beneath the roofs of small wooden sheds. These

Ukraine’s military continues to hold back the enemy and inflicting significant losses, while the enemy has concentrated its main efforts on the Pokrovsk, Torets, Lyman, and Novopavlivsk directions, as well as along the border areas of the Sumy region. The Russian army has also significantly ramped up its operations in the Zaporizhzhia direction, where it is conducting active offensive maneuvers, reported the Commander-in-Chief of the Armed Forces of Ukraine, Oleksandr Syrsky. Meanwhile, Ukrainian troops have made progress in the Kharkiv

British and French officials working on plans to deploy peacekeepers in Ukraine have discussed the necessity of providing long-term defense for Ukraine without US involvement. In particular, the officials have shifted their priorities: instead of deploying European troops to support the ceasefire, they will focus on supplying long-term defense for Kyiv independently. The fact is that there is now serious concern that the US president may indeed abandon his role as a mediator if he cannot bring Russian president to

The Ukrainian peace memorandum includes provisions for a ceasefire on land, in the air, and at sea. Monitoring compliance with these conditions should involve international partners. After reviewing the memorandum, US Special Envoy Keith Kellogg confirmed receipt of the document and stated that it contains 22 points, describing them as “quite good” and “reasonable.” He also emphasized that Ukraine should not refuse to engage in negotiations, even if the Russian memorandum is not submitted before they begin. Ukraine continues to

Kyiv has not reached an agreement with its creditors and will fail to make a $665.5M state debt payment related to GDP warrants, which are debt obligations tied to economic growth rates. Ukraine was supposed to pay this amount to creditors on June 2. However, the Ministry of Finance issued a statement confirming a moratorium on these payments. This moratorium was introduced last year and will stay in effect until the restructuring of this debt is completed. Kyiv reached an

Danylo Hetmantsev, head of the Verkhovna Rada Finance Committee, revealed that the shadow sector is estimated at ₴800-900B ($21.7B). About 30-50% of the economy exists in the shadows, with some sectors exceeding 60%, which creates significant barriers to economic progress. “In European countries, the shadow economy comprises only about 5-7%,” the politician explained. Hetmantsev noted that this new estimate is based on GDP growth. He emphasized that addressing the shadow economy could generate approximately ₴400B in additional funding for the

On May 30, Moody’s Rating Agency affirmed the long-term issuer ratings of the Ukrainian government in foreign and national currencies at Ca – one of the lowest credit ratings on Moody’s scale, indicating a very high risk of default. The justification states that the ongoing war with Russia continues to create long-term challenges for the economy and public finances. The agency forecasts that Ukraine’s economic growth rate in 2025 will slow to 2.5% (compared to 2.9% in 2024), the state

More than 200 small and medium Finnish firms are looking to establish a presence in Ukraine, while larger companies are planning to broaden their operations. The most promising sectors for Finnish investors in Ukraine continue to be IT and digitalization, green energy, construction innovation, and the food processing industry. Among the major Finnish players in Ukraine: Nokia: Operating in Ukraine for 30 years, it supports vital infrastructure such as hospitals and schools. The company aims to establish a defense innovation

Philip Morris Ukraine is considering whether to start the export of cigarettes manufactured at a newly built factory in the Lviv region, said the company’s CEO Maksym Barabash during a roundtable discussion on Ukraine’s economic recovery. According to him, the Philip Morris factory in Kharkiv, which was closed due to the war’s outbreak, produced 20 billion cigarettes annually, 50% of which were exported, including to Japan. By launching a new $30M factory in the Lviv region, the company sees the

Earlier this year, the Western energy sector began to consider how it might carefully return to Russia if peace is reached in Ukraine. Due to falling oil prices, Greek vessels transported 26% of Russian oil in April, and in March, they made up 30% – over 100% higher than their market share in 2024. Shipping Russian oil remains legal under Western sanctions as long as the price stays below $60 per barrel. The actions of Greek shipowners also reflect the

The Cabinet of Ministers has approved the conclusion of two more special investment agreements with the Slavsky and Rozhanka Park companies, which will develop a new €140M ski resort in the Lviv region. Four major investment projects are already included in the state program to support projects with significant investment. Revenues for budgets at all levels from the implementation of these two new investment projects between 2025 and 2039 will total ₴7.3B. In turn, the state will offer several benefits