Together with the AHK Ukraine, the authors (Robert Kirchner, Garry Poluschkin, Dr. Julian Ries, Thomas Otten) have identified 30 concrete reform proposals to improve Ukraine’s investment climate. While Ukraine’s economy grew by 5% in 2023, this growth followed a sharp decline of 29% in wake of the Russian attack in 2022. In the future, Ukraine must develop a sustainable growth strategy, unlocking all potential drivers of growth.
Robert Kirchner, Garry Poluschkin, Dr. Julian Ries, Thomas Otten
The German Economic Team has presented the latest Economic Monitor for Ukraine and Moldova at the 23rd information event on 15 February at the Federal Ministry of Economics and Climate Action (BMWK).
After a sharp decline in GDP in 2022, the economy experiences moderate growth of 5.2% in 2023 and 4% in 2024, mainly driven by rising consumption. Despite a current account deficit and growing trade deficits, foreign exchange reserves improve (2023: USD 40.5bn) and inflation falls to 5.1%. Nevertheless, massive budget deficits and rising public debt remain, making debt restructuring necessary, as well as a dependence on foreign financing. The new Black Sea corridor offers opportunities for exports, while regional disparities and labour market challenges due to migration require special attention.
On 19 February 2024, Café Kyiv, organised by the Konrad Adenauer Foundation, took place in Berlin. As part of the event, the German Economic Team organised a panel that addressed key issues relating to Ukraine’s economic reconstruction. The pane was moderated by Robert Kirchner.
