Economy

Friday, March 28

During the three years of the war, the combined workforce of the 50 largest Ukrainian IT companies has declined by 20,000 specialists due to relocation abroad.

During the three years of the war, the combined workforce of the 50 largest Ukrainian IT companies has declined by 20,000 specialists due to relocation abroad. IT companies N-IX and Grid Dynamics Group saw a decrease of 50% in their workforces, while EPAM’s workforce was reduced by 31%. The largest exodus of IT specialists from Ukraine occurred in the ...

Thursday, March 27

Southern European countries do not support the EC’s rearmament plan for Europe.

Southern European countries do not support the EC’s rearmament plan for Europe. Several European countries have resisted the European Commission’s initiative to boost defense spending through low-interest loans, fearing it would exacerbate their already significant debt burden. I...

Nearly 62% of Western companies left Russia after the war began, but energy giants are considering a return after sanctions are lifted.

Nearly 62% of Western companies left Russia after the war began, but energy giants are considering a return after sanctions are lifted. Over the three years of Russia’s full-scale war against Ukraine, 62% of companies from “unfriendly” countries have exited Russia, according to Kept, a consulting firm. This total inc...

A Ukrainian furniture supplier for international retailer JYSK is investing in production automation ahead of an €80M deal.

A Ukrainian furniture supplier for international retailer JYSK is investing in production automation ahead of an €80M deal. Furniture manufacturer Accord-Import has invested over €1M in production automation over the past two years. The company is currently constructing a new €13M robotic factory in Khmelnytskyi. This new ...

Wednesday, March 26

A German company becomes the first buyer of electricity origin guarantees in Ukraine, which will aid in the development of renewable energy.

A German company becomes the first buyer of electricity origin guarantees in Ukraine, which will aid in the development of renewable energy. The first corporate sale of electricity guarantees of origin in the renewable energy market has taken place in Ukraine. Knauf Gips Kyiv, a manufacturer of building materials that is part of the German...

Trump is preparing to impose “unprecedented” tariffs on imports from Russia.

Trump is preparing to impose “unprecedented” tariffs on imports from Russia. The Trump administration is preparing to introduce new tariff restrictions on imports from 15 countries, including Russia. These measures may take effect on April 2. Initially, it was planned for the ...

Most Ukrainian defense industry manufacturers are considering moving their operations abroad. Why?

Most Ukrainian defense industry manufacturers are considering moving their operations abroad. Why? As of February, 85% of private manufacturers of weapons and military equipment (WME) are planning to relocate or have already done so, according to 34 private companies in the defense sector. The top ...

Ukraine, with support from the FAO, is launching the construction of modern vegetable storage facilities in frontline areas.

Ukraine, with support from the FAO, is launching the construction of modern vegetable storage facilities in frontline areas. The UN’s Food and Agriculture Organization (FAO) has backed an initiative from the Ministry of Agrarian Policy of Ukraine to build small vegetable storage facilities, according to the agencyR...

An agro-processing plant with a capacity of 120 tons per day launches in the Poltava region, along with a flour milling complex in the Volyn region.

An agro-processing plant with a capacity of 120 tons per day launches in the Poltava region, along with a flour milling complex in the Volyn region. In the Myrhorod district (Poltava region), the Yednist’ Food Grain and Legume Processing Plant, which is part of the Yednist’ Group’s production assets, has commenced operations. The plant is eq...

Office rental prices in Kyiv continue to decline.

Office rental prices in Kyiv continue to decline. Rental rates in Kyiv’s business centers have been falling during the first months of 2025. This trend occurs amid increasing pressures on tenants. In August of last year, rent for class A facili...

Tuesday, March 25

Czechia believes the mineral deal with the US will be part of Ukraine’s security guarantees.

Czechia believes the mineral deal with the US will be part of Ukraine’s security guarantees. Czech President Petr Pavel thinks that Ukraine’s security guarantees will consist of two components: a mineral agreement with the US and guarantees from European countries. “If American bu...

Russia is worried about a repeat of the USSR’s collapse due to declining oil prices.

Russia is worried about a repeat of the USSR’s collapse due to declining oil prices. A few weeks before talks between US President Trump and Russian President Putin, the Russian Central Bank alerted the Kremlin to the possibility of a prolonged drop in oil prices, similar to the one t...

Kyiv has urged the EU to extend the duty-free trade regime to avoid devastating Ukraine’s economy.

Kyiv has urged the EU to extend the duty-free trade regime to avoid devastating Ukraine’s economy. Ukraine has warned that the expiration of duty-free trade with the EU on June 5 could result in ”serious damage” to its economy. Kyiv hopes the EU will extend the duty-free trade regime, especially gi...

Industrial inflation in Ukraine hits 40%, with food products seeing an 18% price increase.

Industrial inflation in Ukraine hits 40%, with food products seeing an 18% price increase. In February 2025, wholesale prices for industrial producers rose by 37% compared to February of the previous year. Domestic prices surged by 40%, while export prices increased by 15.9%, according to t...

Mortgage lending in Ukraine increased by 29% at the start of the year, while the average rate decreased to 8.3% per annum.

Mortgage lending in Ukraine increased by 29% at the start of the year, while the average rate decreased to 8.3% per annum. According to the NBU, in January of this year Ukrainian banks issued 475 mortgage loans totaling ₴867M ($21M), a 29% increase compared to December 2024. In January, most loans were issued in the secon...

The Ukrainian economy will reach its pre-war level in 10 years.

The Ukrainian economy will reach its pre-war level in 10 years. The Finance Committee of the Ukrainian Parliament believes that, considering current economic growth trends, Ukraine’s real GDP in 2025 will be 20% lower than in 2021, excluding temporarily occu...

How much industrial hemp will be grown in Ukraine in 2025?

How much industrial hemp will be grown in Ukraine in 2025? Experts claim that, following the adoption of relevant legislation, the area planted with technical hemp in Ukraine could expand from the current 3,000 hectares in the Sumy, Zhytomyr, and Chernihiv re...

Monday, March 24

Ukraine aims to earn ₴1B from leasing state land this year.

Ukraine aims to earn ₴1B from leasing state land this year. The State Land Bank has included 2,479 plots of land, valued at an estimated ₴1B ($23M), in a second pool, as reported by the State Property Fund. This represents 206,382 hectares of land across 23 re...

The US intends to include control over nuclear power plants in its mineral agreement with Ukraine.

The US intends to include control over nuclear power plants in its mineral agreement with Ukraine. The Trump administration is seeking to modify the terms of its subsoil agreement with Ukraine. Washington is looking for Kyiv to agree to eliminate rules governing the ownership and management of a jo...

A British company plans to establish a production facility in an industrial park in the Ternopil region.

A British company plans to establish a production facility in an industrial park in the Ternopil region. An unnamed British company is considering a 3,000-square-meter building within the Western Ukrainian Industrial Hub industrial park. Located near Ternopil, the park has commissioned two new industrial...

Friday, March 21

Europe, along with Ukraine, is ramping up the production of 155-mm ammunition.

Europe, along with Ukraine, is ramping up the production of 155-mm ammunition. French defense plant Les Forges de Tarbes, which was on the brink of closure in 2021, is now running at full capacity, fulfilling orders for 155-mm artillery shells. The priority is to support Ukraine...

Shelling and business uncertainty slowed real GDP growth in Ukraine to 0.5% in February.

Shelling and business uncertainty slowed real GDP growth in Ukraine to 0.5% in February. The growth rate of real Ukrainian GDP decreased to 0.5% during the same month. This downturn is attributed to the damaging effects of Russian shelling on various industries and heightened uncertainty ...

European industrialists state they need to import sugar and chicken from Ukraine.

European industrialists state they need to import sugar and chicken from Ukraine. During a hearing in the European Parliament on the benefits of agricultural trade between Ukraine and the EU, a representative from the Association of European Industrial Sugar Users (CIUS) mentioned ...

Ukrainian industry and businesses are reviving as they overcome the consequences of Russian aggression.

Ukrainian industry and businesses are reviving as they overcome the consequences of Russian aggression. Rivneazot has fully restored its production of mineral fertilizers and has brought key workshops up to their planned capacity. The loaded ammonia line now has a capacity of 650 tons per day, while unc...

Every seventh Ukrainian is unemployed.

Every seventh Ukrainian is unemployed. According to 2024’s results, Ukraine’s average unemployment rate decreased to 14.3%. In 2023 the unemployment rate was 17.4%, in 2022 – 18.5%, the Center for Economic Strategy notes. ̶...

Thursday, March 20

Ukraine has lost 20.5% of its agricultural land since the start of the full-scale war.

Ukraine has lost 20.5% of its agricultural land since the start of the full-scale war. This has led to a reduction in gross agricultural production, said Minister of Agrarian Policy Vitaly Koval. “If we compare, for example, 2021, which was a fruitful and successful year, we grew ...

Russia’s European neighbors oppose resuming purchases of Russian energy.

Russia’s European neighbors oppose resuming purchases of Russian energy. Any talk of a return to Russian oil and gas is premature and threatens Europe’s security interests, warn EU countries bordering Russia, amid growing speculation that a US-brokered peace deal cou...

Switzerland doubles its aid to Ukraine to $114M for this year’s reconstruction.

Switzerland doubles its aid to Ukraine to $114M for this year’s reconstruction. The Swiss State Secretariat for Economic Affairs (SECO) has doubled funding for a competition for Swiss companies operating in Ukraine, increasing it from CHF 50M to CHF 100M ($57M – $114M). Thi...

The EU has limited access for US, UK, and Turkey companies to a €150B rearmament fund aimed at supporting the European defense industry.

The EU has limited access for US, UK, and Turkey companies to a €150B rearmament fund aimed at supporting the European defense industry. Companies based in the US, UK, and Turkey will not be allowed to participate in the €150B EU defense fund proposed by the European Commission unless their respective countries sign defense and securit...

Vollert, the German giant, is getting ready to build factories in Ukraine.

Vollert, the German giant, is getting ready to build factories in Ukraine. A German industrial consortium led by Vollert Anlagenbau GmbH is launching a network of high-tech factories dedicated to producing prefabricated reinforced concrete structures in Ukraine. These advanc...

Wednesday, March 19

Ukrainian financiers anticipate inflation to slow over the next year after reaching 13.4% in February.

Ukrainian financiers anticipate inflation to slow over the next year after reaching 13.4% in February. Consequently, according to the NBU, financial analysts in February 2025 maintained their inflation forecast at 7.8% for the upcoming 12 months. The public’s inflation expectations have improved ...

The Bundestag approves reform to Germany’s debt brake mechanism in order to increase defense spending and aid to Ukraine.

The Bundestag approves reform to Germany’s debt brake mechanism in order to increase defense spending and aid to Ukraine. The German government backed a €1T plan to invest in the country’s defense and infrastructure. During an emergency meeting on March 18, the German parliament approved a debt package – amendments...

British investors are ready to invest in the reconstruction of Ukraine; China also seeks to become involved.

British investors are ready to invest in the reconstruction of Ukraine; China also seeks to become involved. During a meeting between Ukrainian Deputy Development Minister Alena Shkrum, British government officials, and businesses, Britain expressed its readiness to invest in Ukraine’s reconstruction a...

Ukraine and Sweden will become partners in the energy field and the green transition.

Ukraine and Sweden will become partners in the energy field and the green transition. Ukraine and Sweden signed a memorandum of understanding on the establishment of a partnership on energy issues and the green transition in the field of nuclear energy. The memorandum’s purpose i...

Ukrainian gunsmiths increased their production by more than 200% in 2024, and will continue to grow this year.

Ukrainian gunsmiths increased their production by more than 200% in 2024, and will continue to grow this year. In 2024, total arms production volume in Ukraine amounted to $10B, which is 200% more than in 2023 and 900% more than in 2022. However, Ukrainian manufacturers are only operating at 30-40% of their ca...

Developers in Kyiv prefer to build business-class housing, while budget residential complexes are built in the suburbs.

Developers in Kyiv prefer to build business-class housing, while budget residential complexes are built in the suburbs. During the last three years of war, construction costs in Kyiv have increased by 16% annually, according to average annual indicators of the indirect cost of housing construction in Ukraine. It is not...

Tuesday, March 18

The EU wants Ukraine to reorient its exports to African and Latin American countries, even though a membership date has been established.

The EU wants Ukraine to reorient its exports to African and Latin American countries, even though a membership date has been established. After more than ten years of preparing Ukrainian businesses for integration into the EU internal market, Ukraine is now being advised to shift its exports to “developing countries,” said D...

The EU is confident that Ukrainian exports of biomethane to the EU can be expanded.

The EU is confident that Ukrainian exports of biomethane to the EU can be expanded. The initial experience of exporting Ukrainian biomethane to Europe via the GTS in February 2025 was successful, so we can expect the project to grow in the future, says Anne Bercio, Trade Manager of t...

New developments in the Ukrainian agricultural market this spring: a review of new projects.

New developments in the Ukrainian agricultural market this spring: a review of new projects. A flour milling plant with a daily processing capacity of 120 tons of wheat is being built in Cherkasy. The production will be fully automated and equipped with machinery obtained from Turkish ÇIFT Ka...

Plans for the construction of industrial facilities in Ukraine have surpassed pre-war levels.

Plans for the construction of industrial facilities in Ukraine have surpassed pre-war levels. Due to the full-scale war, industrial construction in Ukraine has predictably declined, with nearly 500 large and medium-sized enterprises seriously damaged or destroyed. However, in the relatively sa...

The pace of housing construction in Kyiv continues to lag behind pre-war levels, while the suburban market is more active.

The pace of housing construction in Kyiv continues to lag behind pre-war levels, while the suburban market is more active. Between 2011 and 2023, over 9.39 million square meters of housing were put into operation annually in Ukraine, according to UTG analysts. Each year, approximately 13.7% (1.35 million square meters) we...

Monday, March 17

Ukraine needs an economy that grows at an explosive pace to overcome the war’s consequences – Entrepreneur Vyacheslav Mishalov

Ukraine needs an economy that grows at an explosive pace to overcome the war’s consequences – Entrepreneur Vyacheslav Mishalov During preparations for our UBN Network War & Investment live event in Kyiv, we decided to speak about investments with experts. And who is Ukraine’s foremost authority in the investment fie...

The G7 and Ukraine’s other allies vow to intensify sanctions pressure on Russia if it refuses to agree to a ceasefire.

The G7 and Ukraine’s other allies vow to intensify sanctions pressure on Russia if it refuses to agree to a ceasefire. The G7 countries have warned Russia of new sanctions if it does not halt hostilities with Ukraine. The G7 is preparing a statement that will stress the importance of reliable “security measures&...

The US has increased sanctions pressure on Russia by banning foreign companies from making payments for Russian energy resources.

The US has increased sanctions pressure on Russia by banning foreign companies from making payments for Russian energy resources. European countries can no longer buy oil from Russia. On March 12, the license that permitted Russian banks – such as Sberbank, Alfa-Bank, and the Russian Federation’s Central Bank – to conduct ...

Ukraine has selected 64 projects valued at over ₴2B for the joint Ukrainian Recovery Program with the EIB.

Ukraine has selected 64 projects valued at over ₴2B for the joint Ukrainian Recovery Program with the EIB. On March 13-14, the expert working group from the Ministry of Development and Trade selected 64 community projects to receive support under the Ukrainian Recovery Program. By the end of the first day,...

Ukraine’s business activity index has fallen to zero.

Ukraine’s business activity index has fallen to zero. According to the Institute for Economic Research, the business activity recovery index in Ukraine also fell to zero in February, marking the worst result in the last two months. Consequently, the bala...

Last year, Ukrainian developers started the construction of 70,000 apartments. Where was housing construction most active?

Last year, Ukrainian developers started the construction of 70,000 apartments. Where was housing construction most active? The number of apartments in residential buildings at the initial stage of construction in Ukraine in 2024 was just 70,000. The ranking of regions where the most housing is being built is as follows: K...

Sunday, March 16

The international order is shifting dramatically under Trump – what does it mean for Ukraine?

The international order is shifting dramatically under Trump – what does it mean for Ukraine? Ukraine Business Network (UBN Network) and Ukraine Business News (UBN) held a live event titled “War & Investments” in Kyiv on March 14. The main topic of discussion was Ukraine’s outl...

Thursday, March 13

Analysts compared EU countries’ spending on Russian energy and their support for Ukraine.

Analysts compared EU countries’ spending on Russian energy and their support for Ukraine. Experts examined EU countries’ total expenditures on Russian oil and gas imports, alongside the military, financial, and humanitarian aid provided to Ukraine from 2022 to 2024. Italy (€23.55B), ...

Ukraine plans to buy as much gas as possible from the US due to growing import demand.

Ukraine plans to buy as much gas as possible from the US due to growing import demand. Ukraine may buy significant volumes of American gas this year through terminals in Germany, Greece, Lithuania, and Poland, Reuters reports. These purchases are necessary in order to cover Ukraine̵...

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