Executive Summary
- According to IER estimates, real GDP grew by 1.6% yoy in the second quarter of 2025. Therefore, real GDP growth rates in 2025 will be closer to 2%.
- In June, electricity exports increased 2.5 times mom – to 237 thousand MWh.
- Gas injection into underground storage facilities amounted to 1.35 bn m³ (+23% month-over-month), reserves reached 8.16 bn m³, the lag behind last year decreased to 18.5%.
- The volume of transportation through the maritime corridor reached 130 m t, of which 81 m t was agricultural products.
- In the first half of the year, transportation of grain by rail declined by 32% yoy to 14.7 m t.
- Grain exports dropped sharply due to depletion of previous years' harvest reserves. At the same time, imports surged.
- The fiscal gap remains uncovered in 2026, while Ukraine is already falling short on its commitments to international partners.
- In June, annual inflation slowed for the first time in 12 months but remained high. It equalled 14.3% yoy.
- At the end of June, NBU international reserves amounted to USD 45.1 bn compared to USD 44.5 bn in May.
