The new Business Forecasts for 2024 survey conducted by Ukraine’s European Business Association (EBA) has identified a range of positive indicators that point to growing confidence within the Ukrainian business community despite Russia’s ongoing invasion.
Released on 11 September, the survey found that more than half of respondents (58%), expect to see their business develop positively in 2024, up from 47% in the previous annual poll.
According to the survey, which featured responses from 91 CEOs of EBA member companies, 72% expect to see revenue growth in 2024, with 40% planned to expand their teams and just 12% expecting to reduce staff. The number of companies planning new investment projects also climbed from 19% last year to 26%, with the average amount per project rising significantly from $3 million to around $8 million.
“Businesses are gradually recovering, investing, and making plans, which means they believe in a better future for Ukraine and our victory,” commented EBA Executive Director Anna Derevyanko. “At the same time, we see a demand for reforms that are frankly overdue, such as an effective fight against corruption, judicial reform, and protection of investor rights.”