Ukrainian GDP increased by 4.5% year-on-year during the first nine months of 2024, according to new data from Ukraine’s Ministry of Economy. This growth continues the trend established in 2023, which saw Ukrainian GDP rise by 5.3% following a 28.8% crash during the first year of Russia’s full-scale invasion. Commenting on Ukraine’s strong economic performance […]
Economy
War damage in Ukraine: Ukrainian businesses have limited legal options
When EU and G7 leaders struck a deal in the first half of 2024 to use the proceeds from frozen Russian assets in order to aid Ukraine, it was widely welcomed as an important step. However, progress has since stalled. Meanwhile, the issue of more comprehensively compensating Ukraine for the damage caused by Russia’s invasion […]
Maud Joseph: French companies are the biggest foreign employers in wartime Ukraine
How many French companies are currently active in Ukraine? At present, there are 180 French companies operating in Ukraine. Around three-quarters of these companies have been in Ukraine for more then fifteen years. French businesses contribute significantly to the Ukrainian economy and are present in every region of the country. In total, French companies have […]
Ukraine reaches $20 billion debt restructuring deal with key bondholders
Ukraine has struck a deal with a number of private creditors to restructure more than $20 billion in debt and avoid a potential financial crisis that could have had grave consequences for the country’s war effort. According to the preliminary agreement reached on July 22, bondholders have accepted nominal losses of thirty seven percent. The […]
More and more Ukrainian businesses are embracing international expansion
The unprecedented disruptive impact of Russia’s ongoing invasion is prompting Ukrainian businesses to enter foreign markets in record numbers. This expansion is no longer limited to neighboring European Union member states on Ukraine’s western border, and has now become a much more global phenomenon. Growing numbers of Ukrainian companies are seeking to establish a presence […]
Legislation and lobbying to aid Ukraine’s recovery
Over the coming five years, the European Bank of Reconstruction and Development (EBRD) plans to invest between EUR 7.5 billion and EUR 15 billion in Ukraine. The private sector is also showing signs of increasing commitment. Major companies including Germany’s Bayer AG and Rheinmetall, the UK’s BAE Systems, and Turkey’s Baykar have already either announced […]
For the first time ever, Ukraine has passed the winter heating season relying exclusively on domestic gas
The Ukrainian energy sector reached a significant milestone on 1 March, 2024. The arrival of spring meant that for the first time in the country’s independent history, Ukraine passed the entire winter heating season relying exclusively on domestically produced gas. “The first day of spring. This means that we spent the winter entirely on Ukrainian […]
Breadbasket of Europe: Ukraine was the European Union’s third largest agricultural supplier in 2023
Ukraine is the third largest agricultural supplier to the EU, according to new figures released by the European Commission in January. Data covering the period from January to October 2023 showed Ukraine in the number three position among agri-food exporters to European Union markets behind first placed Brazil and the United Kingdom, with the United […]
World Bank forecast: Ukraine could be Europe’s fastest-growing economy by 2025
The World Bank expects Ukrainian GDP to increase by 6.5% in 2025, the highest anticipated growth rate in Europe. In a newly released January 2024 Global Economic Prospects overview, World Bank analysts have also upwardly revised their earlier estimate for Ukrainian GDP growth in 2023 from 2% to 4.8%. This optimistic outlook mirrors a similarly […]
Leading Turkish e-commerce company plans to launch in Ukraine despite wartime challenges
One of the largest Turkish e-commerce companies had confirmed plans to launch in Ukraine. In a January 7 interview with Bloomberg, Hepsiburada CEO Nilhan Onal Gokcetekin said the company is ready to begin large-scale Ukrainian sales if an initial trial run proves successful. The Hepsiburada chief executive said her company is not deterred by the […]