Ukrainian economy in war times: Facing new reality, May 2022

Almost three months into the war, Ukraine now felt all the immediate devastating consequences of the armed conflict in its territory, as well as the outcomes of the first policy response, which were supposed to drag the country’s economy through the first fiery weeks and ahead.

Also, the major challenges, half-hidden behind the first shock and terror, became more visible, including the budget, fuel supply and logistics fragility. Nevertheless, in many economic areas Ukraine has demonstrated a surprising resilience, not limiting by its military performance.

This resilience became a ground for the sort of a vote of confidence in the country’s recovery from the western partners and resulted in a wide discussion of the future big recovery plan for Ukraine.

The first review for April is available at the link.

The research was conducted with the support of the German Economic Team. Conclusions in this paper are those of its authors and do not necessarily represent the views of the supporting organisation.