The National Bank of Ukraine (NBU) has imposed sanctions on Paytek LLC (Kyiv) for violating the requirements of the legislation regulating activities in the payment market: it imposed a fine of UAH 12,803,900 and issued a written warning. According to information on the NBU website, the fine was imposed for violating the requirements of the law on the provision of payment services and the rules for storing and protecting the confidentiality of payment service providers.
It is noted that the inspection department conducted a scheduled inspection of Peitek LLC in May-July 2025, and the company had to pay the fine within 14 calendar days from the date of receipt of the relevant decision.
Peitek LLC is also obliged to eliminate the violations and prevent them in the future until February 27, 2026.
According to data from YouControl, Peitek LLC was registered in Kyiv in 2021. Its authorized capital is UAH 5.5 million. It is owned by Aldega CJSC (Lithuania) Andrius Trofimovas, who is the owner of the microcredit company Aventus Ukraine LLC.
According to the company’s website, Peitek LLC provides services for transferring funds in national currency without opening accounts, as well as for providing funds and bank metals on credit, while, as noted, it does not provide loans to individuals who are consumers of financial services and does not settle their overdue debts.
The full list of recipients of funds to whom Paytec LLC makes transfers and with whom it has concluded relevant agreements includes the following microcredit companies: Aventus Ukraine LLC (CreditPlus TM), Lineura Ukraine LLC (Credit 7 TM), Selfie Credit LLC (SelfieCredit TM), Slon Credit LLC, Innovation Company LLC, Star Finance Group LLC (StarFin and Suncredit TM), FC Procent LLC, KLT Credit LLC, and Gama Upgrade LLC.
ICU Investment Group forecasts a slowdown in Ukraine’s real GDP growth in 2026 to 1.2% from 2.1% in 2025, while in July the company forecast GDP growth of 2.5% this year and 2.8% next year.
“Macroeconomic risks are under control, but economic recovery is slow,” according to ICU’s updated macroeconomic forecast released on Tuesday.
ICU noted that the European Union’s (EU) decision to grant Ukraine a loan should provide the preconditions for macroeconomic stability, financing the budget deficit, and supporting the National Bank’s reserves in 2026-2027, as well as creating the basis for the implementation of a new cooperation program with the International Monetary Fund for at least the next two years.
At the same time, according to the investment group, Ukraine will need additional bilateral loans and grants to fully cover its defense needs.
ICU expects economic growth to slow down primarily due to damage to energy and transport infrastructure from Russian attacks, electricity shortages, and complications with maritime exports, which will cause temporary downtime for large manufacturers.
Additional restraining factors include a gradual reduction in the state budget deficit and fiscal stimulus, as well as business hesitation to invest due to high security risks. Private consumption will remain the key driver of growth.
According to ICU’s forecast, annual inflation at the end of 2026 will be 6-7%, and the National Bank of Ukraine will move to ease monetary policy at the end of January with a cumulative reduction in the discount rate by 200 basis points during the year to 13.5%.
According to the company, the National Bank will slightly weaken the hryvnia in 2026 amid slowing inflation and growing external imbalances, and forecasts the hryvnia-dollar exchange rate at the end of next year at UAH 44.3/$1, which is slightly better than the July forecast of UAH 44.9/$1. Reserves, according to the investment group’s estimates, will remain at record levels thanks to EU funding.
According to ICU estimates, at the end of 2025, inflation will be 8.3%, the hryvnia exchange rate will be 42.4 UAH/USD, international reserves will be $53.1 billion, the current account deficit will be 18.2% of GDP, the budget deficit (before official grants) will be 22% of GDP, and public debt will be 101% of GDP.
For 2026, the company forecasts inflation at 6.3%, international reserves at $52.3 billion, a current account deficit of 16.8% of GDP, a budget deficit of 19% of GDP, and public debt of 109% of GDP.As reported, at the end of October, the National Bank downgraded its forecast for the country’s economic growth in 2025 from 2.1% to 1.9% due to energy shortages, the destruction of gas production facilities, and labor shortages, and for 2026 from 2.3% to 2%.
Among the areas of public policy in 2025, Ukrainians rated the digitization of public services most highly and the fight against corruption in government most poorly, according to the results of a nationwide sociological survey by Active Group, presented at a press conference at the Interfax-Ukraine agency on Tuesday.
“The only area that citizens perceive as an unconditional success with a clear practical effect on everyday life is the digitization of public services. The average rating is 2.92,” said Active Group co-founder Alexander Pozniy.
According to the study, Ukrainians also considered the promotion of Ukraine’s interests in the international arena (2.57) and the restoration of energy infrastructure after shelling (2.41) to be relatively successful areas. Attracting foreign investment (2.38) and developing the defense-industrial complex (2.23) also received above-average ratings.
In the middle of the scale were the improvement of the education system (2.18), the approach of a favorable end to the war for Ukraine (2.16), and the functioning of the healthcare system (2.15). Respondents rated the development of defense forces and high-quality mobilization at 2.08 points, social protection for veterans at 2.02, and support for socially vulnerable groups at 1.92.
The economic sector received lower ratings: overall economic development – 1.87, improvement in the work of law enforcement agencies – 1.80, and support for small and medium-sized businesses – 1.67. Respondents rated the return of people from abroad at 1.65 and the improvement in the demographic situation at 1.61.
According to the survey, the most problematic areas remain improving the judicial system (1.55) and reforming the system of government (1.51). The fight against corruption in government received the lowest rating of all areas, at 1.36.
“The 1.36 rating for the fight against corruption is a marker of major public disappointment and an area where people do not see systemic changes,” Pozniy said.
A separate section of the study concerned awareness of and trust in law enforcement and anti-corruption institutions. The most well-known remain the Armed Forces of Ukraine, which 89.6% of respondents had heard of, the SBU (76.8%), and the GUR (74.3%). Among anti-corruption bodies, the NABU (71.6%) and the MIA (65.1%) have a high level of recognition, while 37.4% have heard of the SAP, 36.7% of the VAKS, 34.6% of the NAZK, 33.6% of the BEB, and 31.5% of the Office of the Prosecutor General.
According to Active Group co-founder Andriy Yeremenko, the dynamics of trust in December 2025 showed growth primarily in the Defense Forces. “The Armed Forces of Ukraine remain the undisputed leader in terms of trust: 65.5% trust them in December, which is 13.2 percentage points more than in September—the largest increase among all structures,” he said.
According to the survey, trust in the Security Service of Ukraine (SBU) stands at 38.5% (+2.0 percentage points), and in the Main Intelligence Directorate (GUR) at 36.1% (+1.9 percentage points). Among anti-corruption agencies, the share of those who trust the NABU has grown to 23.6% (+3.2 p.p.), and the BEB to 7.8% (+3.2 p.p.).
At the same time, there has been a decline in trust in a number of institutions: the SAPO to 7.3% (-5.7 p.p.), the NACP to 3.5% (-5.8 p.p.), the VAKS to 4.1% (-2.4 p.p.), and the SBI to 9.7% (-2.4 p.p.). Trust in the Office of the Prosecutor General was 2.1%, with the institution being measured for the first time. The share of respondents who said they did not trust any of the listed structures was 20.8% (-3.3 p.p. compared to September).
The survey was conducted by Active Group on December 21-23, 2025, using the SunFlower Sociology online panel, with self-completed questionnaires by Ukrainian citizens aged 18 and older. The sample size was 2,000 questionnaires, with a theoretical margin of error of no more than 2.2% at a confidence level of 0.95.
According to Serbian Economist, Serbian President Aleksandar Vucic has announced that the country plans to introduce regular conscription in the near future.
According to him, the term of service may be about 75 days, with the final parameters still being clarified. Vučić also noted that the service should promote responsibility among young people and will not be as harsh as before.
Vučić added that Serbia continues to rearm in order to deter a possible aggressor and intends to remain out of the war.
Croatia has also announced a return to compulsory military service: in October 2025, the country’s parliament approved the reinstatement of conscription, providing for two months of basic training, with the first conscripts scheduled to be recruited in 2026.
Four enterprises in Volyn, Rivne, Cherkasy, and Khmelnytskyi regions received UAH 116.3 million in partial state compensation for the construction and reconstruction of six livestock farms, according to the Ministry of Economy, Environment, and Agriculture.
“The state reimbursed up to 25% of the cost of farms, milking parlors, and production facilities for processing by-products that were put into operation,” the ministry said, clarifying the decision of the Ministry of Economy’s commission on state support for the development of livestock farming and agricultural product processing.
It is expected that agricultural producers will be able to keep about 3,000 head of livestock on new and reconstructed farms.
“Supporting livestock farming is an investment in Ukraine’s food security. Enterprises that modernize production and build new facilities in wartime receive real financial assistance from the state. This year, we have reimbursed up to 25% of the cost of facilities that have been put into operation since the beginning of the year,” said Deputy Minister of Economy, Environment, and Agriculture Taras Vysotsky, whose words are quoted in the report.
The Ministry of Economy reminded that support is provided in accordance with the procedure for the use of funds allocated in the state budget for the development of livestock farming and agricultural product processing, approved by Cabinet of Ministers Resolution No. 950 of August 6, 2025. Compensation is provided for completed projects submitted through the State Agrarian Register.
The mining and metallurgical group Metinvest plans to expand its product portfolio in terms of DR-rolled products (iron ore direct reduction DR-rolled products – IF-U) for the production of “green” steel and premium raw materials for pig iron production.
According to a press release, as part of this large-scale program to increase DR-pellet production, which Metinvest is launching, the construction of a flotation and finishing complex for the production of concentrate to ensure the quality characteristics of raw materials for DR pellets and the reconstruction of the existing LURGI 552-A pellet production line are expected.
It is reported that on December 1 of this year, Metinvest Sichstal, a group company that implements its strategic investment projects, signed an agreement with the leading Austrian company Primetals Technologies for the development of basic engineering for the reconstruction of the LURGI 552-A production line. This will be the first stage of the roasting machine’s modernization, which is planned to be completed by the end of 2026.
It is noted that the global trend towards “green” metallurgy, the development of steel production in electric furnaces, and changes in consumption in China and the EU are driving demand for high-quality iron ore raw materials (IORM). To strengthen its competitiveness in the global IRR markets, Metinvest intends to improve the quality of the concentrate used in its production.
“The concentrate from Northern GOK has good potential for quality improvement. After enrichment using flotation technology, we will be able to obtain a product with an iron content of at least 70% and a minimum proportion of impurities – silicon and aluminum oxides of no more than 2%. This opens up the possibility of producing high-quality pellets,” said Sergey Pavlish, Deputy Director of Programs at Metinvest Sichstal.
In order to enter the high-margin DR pellet market, along with the enrichment of ordinary concentrate, it is planned to reconstruct the technological line for the production of pellets for the LURGI 552-A roasting machine. This will enable the manufacture of products with improved characteristics that meet consumer requirements and market trends.
As a result of the implementation of the program, which will consist of these two projects, it is planned to produce about 4 million tons/year of DR pellets at the Northern GOK. The possibility of producing BF HQ class pellets is also envisaged. (Blast Furnace High Quality refers to high-quality iron ore pellets specially designed for use in blast furnace (BF) production with a high iron content and low impurity content, making them an ideal raw material for iron (DR) production, capable of ensuring a more efficient and environmentally friendly process – IF-U).
“The design stage will include the use of modern energy-saving technologies. And the new process control system will allow the line to be reconfigured for the production of any of these types of pellets,” explains project manager Andriy Panchenko, whose words are quoted in the report.
Metinvest Sichstal LLC (MSS) is a company within the Metinvest Group for the implementation of highly complex strategic investment projects, established in 2019.
MSS is one of the largest project organizations in Ukraine, capable of implementing large projects, from conceptual design to commissioning. The company’s goal is to implement key projects in the technological strategy of Metinvest Group companies. MCC provides an integrated process from investment idea, engineering, and design to procurement, construction, and commissioning.
Metinvest B.V. (Netherlands) owns a 100% stake in Metinvest Sichstal LLC.
The LLC’s authorized capital is UAH 30.405 million.
Metinvest Sichstal LLC is part of the Metinvest Group, whose main shareholders are System Capital Management (SCM, Donetsk) (71.24%) and the Smart Holding group of companies (23.76%). The managing company of the Metinvest Group is Metinvest Holding LLC.
