Ukraine has introduced numerous reforms between 2014-2019, which support macro-financial sustainability of the country. As a result, even during COVID-19, Ukraine went stronger with debt-to-GDP ratio at about 50%, sound banking system, improved corporate governance and higher openness and transparency. This helped Ukraine to remain resilient since the beginning of full-scale invasion by Russia.
Millions of people and thousands of businesses in Ukraine remain without electricity every day due to damage to infrastructure damage caused by Russian shelling. For two months in a row, the Russian Federation has been launching rocket attacks on the civilian infrastructure of Ukraine every week. The target of this damage was the network of substations and transformers that provide electricity transmission from generating plants.
The metallurgical and metalworking industry has been one of the pillars of the Ukraine’s economy, but the war and the sea blockade are driving it into a deep crisis. In the industry, enterprises pessimistically assess their business activity and business climate; they continue to reduce production and exports.
In August 2022, the production recovery in Ukraine continued, but the dynamics of the indicators of the economic conditions indicate a possible slowing down of the recovery trend in 6 months perspective. This is indicated by several important factors.
A month ago, Ukraine and the EU signed a road agreement that simplified road freight requirements between the parties. The arrangement proved to be mutually beneficial – trade volumes increased, and the cost of transportation from Ukraine decreased.
Ukraine’s manufacturing sector suffers war losses, but most industries keep optimism about the future. However, manufacturers that secure the basic human needs (food, clothing, and shoes) demonstrate the best production and recovery results.
The need for comprehensive information on the economic situation is important for economic policy during the full-scale Russian invasion of Ukraine, which led to the seizure of Ukrainian territories, terror against civilians, and destruction of industrial facilities and infrastructure in Ukraine.
Ukraine is now a battlefield between good and evil. The new over the old. But everything will be fine. The Ukrainian people and our army can work miracles. In the meantime, the world cannot stay silent. A new day is coming. Let us stand together when it comes.
In the morning, we all heard explosions. Russians fired rockets at suburban areas of Kyiv several Russian helicopters were shot down, dropping something on some factories in Kyiv. The airports are fired at. It’s still hard to believe.
The COVID-19 pandemic affected most areas of Ukrainian life. A study by the Institute for Economic Research and Policy Consulting (IER) found that during the pandemic, traditional methods of communication of civil society with the authorities have declined significantly, especially those involving face-to-face meetings. Instead, the tools of e-democracy became widespread.
