What awaits the Ukrainian economy in 2025 and beyond? Forecasts from experts and authorities

The Centre for Economic Strategy (CES) and the German Economic Team (GET) invite you to join the discussion ‘What awaits the Ukrainian economy in 2025 and beyond? Forecasts from experts and authorities?’.

The difficult situation on the frontline and a new wave of massive shelling have increased the vulnerability of Ukraine’s economy in 2025. Adding to this is the uncertainty surrounding external support due to the geopolitical situation in the United States. At the same time, Brussels is already seeking ways to cover Ukraine’s budget deficit, which could reach $19 billion in 2026.

At CES, we have traditionally asked leading Ukrainian and international analytical teams to provide their views on key macroeconomic indicators for the end of 2025 and 2026.

We presented these forecasts and compare them with government estimates. After that, we discussed what to expect from the Ukrainian economy in the coming months, how prices may change, and what will happen to the exchange rate.

Representatives of analytical companies:

• Oleksandra Betliy, Leading expert at the Institute for Economic Research and Policy Consulting;
• Olena Bilan, Chief Economist at Dragon Capital and member of the CES Supervisory Board;
• Oleksandr Manuilov, Analytic at Forbes Ukraine;
• Dmytro Krukovets, Expert in macroeconomic analysis, KSE Institute;
• Olga Pindyuk, Economist at the Vienna Institute for Economic Research;
• Oleksandr Parashchiy, Head of Research at Concorde Capital;
• Evghenia Sleptsova, Senior Economist, Oxford Economics;
• Alina Slyusarchuk, Head of CEEMEA Economics at Morgan Stanley.

Comments and overview of official forecasts:

• Sergiy Nikolaychuk, Deputy Governor at the National Bank of Ukraine.

Moderator: Maria Repko, Deputy Director of the Centre for Economic Strategy.