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  • Ukraine business plans to increase output and employment IER Monthly Enterprises Survey

    01.08.2022

    Ukrainian business looks to the future with thoughtful optimism

    These are the results of our third Monthly Enterprises Survey "Ukrainian business during the wartime" for July 2022. IER experts presented the main results of the survey at the online event "Economic trends from a business perspective".

    In particular, the survey has shown that, in the context of reducing the level of uncertainty (medium- and short-term outlook), enterprises' output expectations are improving.

    'When we talk about improvement, we mean reducing the rate of reduction in production and the trend of employment growth in businesses,' explains Oksana Kuziakiv, Executive Director of IER.

    These findings reflect the fact that entrepreneurs have improved expectations about production itself and plan to increase employment over the next three months.

    Moreover, the share of companies starting to use their production capacities closer to pre-war volumes and expecting to receive new orders is increasing.

    According to Yevhen Angel, Senior Research Fellow at the IER, the fastest of all is the restoration of production in fields that secure life - the food industry, the manufacture of clothing and footwear.

    Positive is the fact that businesses are rebuilding inventories of raw materials and supplies, although prices on them remain a major problem for entrepreneurs. In comparison, corruption is currently the lowest barrier to business in Ukraine.

    At the same time, the results showed that the half-yearly forecasts of the financial and economic situation of the enterprise and the general economic environment, which remain optimistic, have deteriorated.

    In addition, business has worsened the evaluation of state policy, which, according to our experts, means waiting for clear signals from the state regarding the key rules of economic arrangement during the war.

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