Economy during the war

Since the beginning of Russia’s full-scale invasion, CES experts have issued a monthly overview of important trends and changes in the economy. On this page you will find information about how different sectors have changed as a result of the Russian invasion and what is happening to the economy now. This page also provides monthly overviews of the progress in reconstruction and recovery.

Economy during the war
Economic review in October 2025. Will the EU dare to give Russian assets to Ukraine?
Hlib Vyshlinsky, Iana Okhrimenko, Yeleazar Levchenko, Oleksandra Myronenko, Maksym Samoiliuk
21 October 2025
russian assets war economy
Research
Expenditure control for Ukraine’s reconstruction №22: Review of the 2026 budget draft
26 September 2025
budget business and investment recovery
Economy during the war
Economic review in September 2025. Has the Ukrainian economy reached its limits?
Maksym Samoiliuk, Nataliia Kolesnichenko, Yeleazar Levchenko, Oleksandra Myronenko
18 September 2025
war economy
Research
The recovery spending watchdog №21. Legislative changes, investments, and construction reforms
19 August 2025
business and investment recovery
Economy during the war
Economic review in August 2025. How arms production is transforming Ukraine’s economy?
14 August 2025
war economy
Economy during the war
Economic review in July 2025. What is happening with the Ukrainian budget?
Yeleazar Levchenko, Oleksandra Myronenko, Bohdan Slutskyi, Mariia Tomilina
18 July 2025
budget war economy
Economy during the war
The recovery spending watchdog №20: From Thermal Modernization to DREAM
16 July 2025
recovery
Research
Economic review in June 2025. How has Russia’s invasion changed German-Ukrainian economic relations?
Volodymyr Landa, Yeleazar Levchenko, Oleksandra Myronenko, Maksym Samoiliuk, Bohdan Slutskyi, Mariia Tomilina
20 June 2025
international support war economy
Research
The recovery spending watchdog №19: Business recovery
5 June 2025
recovery
Research
Economic review in May 2025. What Awaits Ukraine’s IT Sector?
Yurii Gaidai, Volodymyr Landa, Maksym Samoiliuk, Mariia Tomilina
15 May 2025
war economy

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