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Ukraine

The German Economic Team has been advising the Ukrainian government in various economic areas since 1994, during which time Ukraine has undergone a significant transformation process.

Ukraine has implemented important reforms, especially since 2014, e.g. the comprehensive implementation of the Association Agreement with the EU, in banking policy, the macro-financial stability, procurement and e-governance.

However, Russia’s aggression since 2014 and especially since the start of the full-scale invasion in February 2022 has had a massive negative impact on the macroeconomic development. In this context, the adopted reforms strengthen the resilience of the Ukrainian economy in times of war.

Ukraine was granted EU candidate status in June 2022 and has a strongly developed IT and agricultural sector. In December 2023, the European Council decided to launch EU accession negotiations with Ukraine.

News

    • 23.02.2024

    GET presents Economic Monitors for Ukraine and Moldova at BMWK

    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).

    • 20.02.2024

    The German Economic Team at Café Kyiv

    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.

Publications

Newsletters

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  • Oleksandra Betliy, Vitaliy Kravchuk, Garry Poluschkin

    Economic resilience in focus

    • Ukraine
    NL 184 | February 2024
    • Macroeconomic Analyses and Forecasting

Economic Monitors

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  • Economic Monitor Ukraine

    WA 19 | February 2023

    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.

Policy Publications

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  • Oleksandra Betliy, Vitaliy Kravchuk, Garry Poluschkin, Robert Kirchner

    Economic forecast for 2024

    • Ukraine
    • Forecast
    FS 02 | 2023
    • Macroeconomic Analyses and Forecasting