The Ukrainian economy has regained the trust of consumers and investors.

The NYT writes that it will take many years for Ukraine’s economy to return to pre-war levels, but after nearly 20 months of war, there is a sense of relative stability. Ukraine’s economy is adjusting to the war, and people have moved from a mode of austerity to a situation where they feel more relaxed and have begun spending more.

It is noted that consumer consumption in Ukraine will grow by 5% this year. The higher-than-expected spending prompted financial institutions to upgrade their economic forecasts. Although the volume of Ukraine’s GDP decreased by 29.1% last year, this year, it will grow by approximately 3.5%.

Analysts note that Ukraine’s ability to adapt to various wartime challenges, such as maintaining electricity supplies despite Moscow’s winter campaign against its energy infrastructure, helped put the economy on a path to stabilization.