Ukrainian President Volodymyr Zelensky said about 200 deals are being prepared for the Ukraine Recovery Conference, which is taking place in Rome on July 10-11 (URC2025) for a total amount of EUR10 bln.
“More than 500 companies are represented here at the conference. About 200 deals are ready to be signed with a total value of more than EUR10 billion. All of these should be fully realized. And please, let’s also focus on energy,” Zelensky said at the plenary session of the Ukraine Recovery Conference in Rome (URC2025) on Thursday.
On July 11, the UKRNAFTA filling station at 8 Kiltseva Street in Chernihiv resumed operations after being completely rebuilt and renovated following the damage caused during the hostilities in 2022.
The filling station, which is popular among residents of the city and the suburbs, has been given a new lease of life with a modern design, a stylish minimarket, free Wi-Fi, a tire inflation station, and AdBlue sales.
At the beginning of the full-scale invasion, in February-March 2022, the Ukrainian military stopped the enemy’s advance on the outskirts of Chernihiv. At the same time, the gas station, which was on the line of fire, was destroyed. Its rebuilding is not only a technical upgrade but also a symbol of the city’s gradual recovery.
On the occasion of the opening, from July 11 to 13, UKRNAFTA will offer pleasant bonuses to its visitors:
50% discount on a hot drink or hot dog for everyone who refuel or make a purchase in the store;
Free* donuts for children;
Balloons to create a festive mood;
A gift certificate for a 50% discount on coffee or a hot dog, which can be used from July 14 to August 10.
The UKRNAFTA filling station at 8 Kiltseva Street is not only a convenient stop for drivers, but also another step in the restoration of Chernihiv’s infrastructure.
*The term “free of charge” refers to the symbolic cost of UAH 0.10 in accordance with the current legislation of Ukraine.
JSC “OTP BANK” announces the continuation of its favorite customer campaign “Lam on a car”, the main prize of which is UAH 1,000,000 for the purchase of a car. This time, it is accompanied by a new brand character of the Bank – Lyamchik, who gives good luck and suggests opportunities to increase the chances of winning.
“We have made sure that you can test your luck once again. We continue the tradition of special offers, promotions and other pleasant surprises for our customers. And to add vivid emotions, good mood, and positive attitude to the “Lam to the Car” campaign, we have introduced a new character. From now on, Lyamchik is our mascot. Follow his advice closely, as it will help you increase your chances of winning and grow financially,” said Natalia Slichuk, Head of Marketing Department of OTP Bank.
How to join the campaign?
You need to take one of the following steps at an OTP BANK branch, on the financial institution’s website or in the OTP Bank UA mobile application
Lyamchyk sincerely supports each client, so he gives his own tips: each subsequent action that meets the conditions of the promotion automatically increases the chances of winning. There can be an unlimited number of such steps.
Our hero also draws attention to the fact that an additional opportunity to increase your chances is available in the OTP Bank UA app – look for the “Multiply Chances” banner and activate your luck.
The promotion lasts from July 7 to August 31, 2025. The lucky one will be able to choose: to receive UAH 1,000,000 to an account at OTP Bank or to use the funds to purchase the car of his dreams.
We would like to remind you that during the previous stage of the “Lamb for a car” campaign, a client of the Bank from Vinnytsia, who took out a loan for a used car, became the winner.
Details and terms of the campaign are available at the link.
On July 1 this year, the President of Uzbekistan watched a presentation of plans in the field of digital technologies, artificial intelligence, and telecommunications.
The number of residents of the IT park of Uzbekistan has exceeded 2800, and the number of foreign companies has reached 752. About 40 thousand young people earn high incomes in this area.
Over the past 5 years, the industry’s exports have grown from $170 million to almost $1 billion.
In 2024, startups attracted $70 million in venture capital investment.
As a result, Uzbekistan has risen 12 positions and entered the top 100 of the global ranking of startup ecosystems. The country also moved up 17 positions in the international AI readiness index, ranking first in Central Asia.
Uzbekistan topped the ranking of CIS countries in terms of the growth rate of the telecommunications industry.
Work in this area is ongoing. In particular, the following goals are set for the next year:
As part of the implementation of these goals, a number of draft regulatory documents have been developed and discussed during the presentation.
To date, 760 types of public services have been digitized. Last year, 10 million citizens used digital services.
Shavkat Mirziyoyev noted that it is time to move on to the next stage – building a Digital Government. First of all, digitalization should cover the most popular areas: education, healthcare, construction, and utilities.
Special attention was paid to the development of artificial intelligence technologies. According to the Presidential Decree of October 14, 2024, the AI development strategy until 2030 was approved. USD 50 million has been allocated for the development of infrastructure in this area.
The goal is to create a national model of artificial intelligence and train 1 million specialists.
The Minister of Digital Technologies reported on the current stages of this task and measures to improve the infrastructure.
Expanding the scope of digital services and export potential remains a priority. So far, the main indicators are concentrated in Tashkent, but thanks to the conditions and benefits created in the country, interest from foreign specialists and companies is growing.
In this context, the President emphasized the importance of creating an attractive environment in each region in order to more actively attract foreign IT companies and stimulate the development of the digital economy throughout the country.
This article presents key macroeconomic indicators for Ukraine and the global economy as of April 1, 2025. The analysis is based on the latest data from the State Statistics Service of Ukraine, the National Bank of Ukraine, the International Monetary Fund, the World Bank, and the United Nations. Maksym Urakin, Director of Marketing and Development at Interfax-Ukraine, Candidate of Economic Sciences and founder of the Experts Club information and analytical center, presented an overview of current macroeconomic trends.
Macroeconomic indicators of Ukraine
The first quarter of 2025 was a period of slow but positive economic movement for Ukraine. According to updated estimates by the National Bank of Ukraine, the country’s real GDP grew by 0.5% year-on-year, indicating a gradual stabilization after an unstable start to the year. This growth is not high by international standards, but in the context of a full-scale war, constant threats to infrastructure and logistics, and limited access to capital, this result is seen as a positive sign.
“Half a percent GDP growth in the first quarter is more an indicator of the system’s viability than a sign of development. The domestic market has begun to revive, especially in consumption, logistics, and certain technology sectors. But so far, this is mainly growth “in place” — without investment momentum, without exports, without long-term resources,” explains Maxim Urakin.
Inflation remains one of the main challenges. At the end of March 2025, the annual inflation rate was around 12.6%, which is almost unchanged from February but shows a gradual slowdown. The NBU points to the impact of seasonal declines in food prices, currency stabilization, and prudent monetary policy as key factors restraining price growth.
“The main thing is to maintain a balance between fighting inflation and preventing a slowdown in economic activity. The National Bank’s monetary policy in the first quarter was quite balanced: on the one hand, it kept the key rate unchanged, and on the other, it provided soft intervention support for the hryvnia. But we are still far from exiting the inflation risk zone,” the expert emphasizes.
The state of foreign trade, on the contrary, points to deepening structural problems. According to preliminary estimates by the Center for Economic Strategy, the foreign trade deficit reached $3.6 billion in April, as a result of a significant excess of imports ($6.3 billion) over exports ($3.1 billion). According to analysts, the cumulative trade deficit for the first quarter exceeded that of the same period in 2024, despite activity in the agricultural sector and services.
“The worst thing is that this deficit is not situational, but structural. Imports of energy, equipment, chemical products, and transport remain dominant, while exports are mostly limited to raw materials. This threatens currency stability in the event of a cessation of international financial support,” comments the founder of Experts Club.
Against the backdrop of a growing trade gap, the level of international reserves remains a positive sign. According to the NBU, as of April 2025, reserves stood at around $42 billion, a historic high for Ukraine. This growth was made possible by further tranches of financial assistance from the European Union, the US, and the IMF, as well as successful currency operations by the National Bank on the interbank market.
“Reserves of over $40 billion are not just an indicator, they are a safety net for a country living in a state of constant risk. But we should not be tempted by this: it is a resource of trust that must be transformed into economic recovery, otherwise we will lose it again, as we have done in the past,” warns Maksym Urakin.
However, the debt burden remains high. According to the latest estimates, Ukraine’s total public and publicly guaranteed debt at the beginning of April 2025 was about $147.2 billion, or approximately 94% of GDP, of which more than $100 billion is external borrowing. This highlights the country’s dependence on external assistance and international financing, in particular from the IMF, the EU, and the World Bank.
Global economy
Global economic indicators at the beginning of April 2025 point to a slowdown in growth, accompanied by continued inflationary pressures, particularly due to new trade risks and geopolitical instability. According to the IMF, global growth has accelerated its decline to 2.8% in 2025, one of the lowest levels in decades . Inflation is gradually declining in most regions, but remains above target, especially in developing countries .
Macroeconomic uncertainty has intensified amid trade protectionism, rising energy prices, and geopolitical challenges, making forecasting much more difficult. Central banks that have not yet tightened policy are in wait-and-see mode, and investors are becoming more cautious. Morgan Stanley and S&P Global forecasts point to a further slowdown in global GDP to 2.2–2.9% in 2025, which is weighing on investor confidence.
According to the BEA, US GDP contracted by 0.3% in the first quarter of 2025, the first decline since 2022. This was mainly due to a sharp increase in imports (pre-purchases ahead of possible tariffs) and a reduction in government spending. However, final domestic demand remained relatively stable (+3%). Inflation in March/April was approximately 2.3–2.6% (PCE), in line with the regulator’s expectations; the Fed is keeping rates at 5.25–5.5% pending signs of stabilization.
According to official data, China’s GDP grew by +5.4% y/y in Q1 2025, in line with the government’s target of around 5%. However, fiscal and monetary constraints, particularly in the real estate sector, are slowing down growth. By May, budget revenues had fallen by 0.3% y/y, indicating a slowdown in economic activity. Stimulus measures are being introduced in response, but their effect is still uncertain.
The European Commission forecasts annual GDP growth of +1.1% for the EU and +0.9% for the eurozone, with a marked improvement in the first quarter (+0.6% q/q), the highest figure since 2022. Inflation in March/April was below 2%, gradually approaching the target level.
According to the ONS, in the first quarter of 2025, the UK showed GDP growth of +0.7% q/q, making it the leader among the G7. In annual terms, growth was approximately +1%. Inflation in April was around 3.4%, prompting the Bank of England to remain cautious in lowering rates (from 5.25% to 4.5%). However, exceeding the inflation target is holding back the economy’s recovery.
In the first quarter, Turkey showed positive growth of around +2.3% q/q, or ≈+3.0% y/y. Inflationary pressures remain extremely high at ≈38–39% in March/April, despite measures taken by the central bank.
The Indian economy continues to show one of the highest growth rates among major economies: in the first quarter of 2025, the rate was +7.4% y/y, with inflation under control: CPI — ~3.2% in April. The forecast for the 2024–25 financial year is +6.3–6.5%.
In the first quarter, Brazil managed to achieve GDP growth of +1.3% q/q (≈+3.5% y/y), which is the best result in the last two years. However, inflation rose to 5.48% in April, the highest level since February 2023, and is a source of serious concern.
“The world at the beginning of the second quarter shows promise, but at the same time high instability. The US has fallen into recession, but domestic demand is still holding up. Europe is slowly emerging from the crisis, and the UK is showing resilience. China is stable in terms of growth but weak in consumption. India is a model of dynamism and innovation. Turkey is on the brink of an inflationary crisis. Brazil is moving forward but is at risk due to rising prices. Ukraine must now decide whether to use the flow of imported resources solely to offset the deficit or turn it into an opportunity for a technological and industrial breakthrough,” said Maxim Urakin.
Conclusion
At the beginning of the second quarter of 2025, Ukraine’s economy is in a phase of sustained equilibrium. Modest growth, controlled inflation, and record reserves are the basic factors of stability. However, a deep trade deficit, debt burden, and lack of investment drivers remain key risks for the medium term.
The global economic picture remains mixed, with clear geographical imbalances. Ukraine is showing resilience, maintaining growth and record reserves, while facing challenges in foreign trade. Global markets, from the US to India, are shaping new conditions for strategic solutions to these challenges.
A more detailed analysis of Ukraine’s economic indicators is available in the monthly information and analytical products of the Interfax-Ukraine agency, Economic Monitoring.
Head of the Economic Monitoring project, Candidate of Economic Sciences Maxim Urakin
https://interfax.com.ua/news/projects/1085984.html
The National Bank of Ukraine on July 7, 2025 applied to JSC “IC ”INGO” (Kiev) a measure of influence in the form of imposing a fine in the amount of UAH 1.819 million for violation of legislation on the protection of the rights of consumers of financial services, reported on the website of the NBU.
According to the information, during the inspection of the company were found violations of legislation on the protection of the rights of consumers of financial services defined by the Civil Code of Ukraine, the laws “On electronic commerce”, “On insurance”, “On financial services and financial companies”, as well as the provisions of the NBU on the peculiarities of the conclusion of insurance contracts with consumers and on the authorization of financial service providers and the conditions of their activities in the provision of financial services.
IC INGO is obliged to pay the fine within one month from the date of entry into force of this decision.
JSC Insurance Company INGO has been providing insurance services for 30 years. Since 2017, the main shareholder is the Ukrainian business group DCH.
