In 2023–2024, Ukraine’s economy performed reasonably well, thanks to substantial Western aid, a partial recovery in exports, and the effect of 'military Keynesianism.' The macroeconomic trajectory resembled that of Russia – growth following a shock. However, by the end of 2024, structural constraints began to emerge, and inflation intensified. In 2024, GDP grew by 2.9%, but a decline was recorded in the final quarter. In 2025, the economy is still growing, but the pace is slowing. The m...
