Ukraine's economy in 2025 — investors' forecast

Ukraine's economic growth will slow to 3.4% in 2025, compared to the expected 4% in 2024. At the same time, inflation will decline from 11.5% to 7%.

This is the forecast of the ICU investment group.

What will Ukraine's economy look like in 2025?

In 2025, the country's nominal GDP is estimated to be $203 billion, compared to $191 billion expected in 2024. ICU experts note that household consumption will grow more slowly due to a slowdown in income growth.

Analysts do not expect significant changes in exports. However, problems with electricity supply will continue to put pressure on the economy. The unemployment rate in 2024 is projected at 15%, with a further decline to 12% in 2025.

Ukraine's international reserves are also projected to reach $44.1 billion in 2024. By the end of 2025, it will decrease to $43 billion.

The level of public debt is expected to reach 90% of GDP this year. Next year, it will reach 94.1%.

As a reminder, experts emphasize that 2025 will be a difficult year for the Ukrainian economy. They predict that the hryvnia devaluation could reach 8%.

The National Bank also predicts a significant increase in prices in Ukraine. Prices will rise in the coming months due to several factors. These include the impact on the food market, increased budget expenditures, high wage growth, and an increased energy shortage during the heating season.