Germany’s GDP remained unchanged in the third quarter of 2025 compared to the previous three months, according to final data from the Federal Statistical Office.
This coincided with both the previously announced data and the consensus forecast of analysts surveyed by Trading Economics.
Germany’s economy grew by 0.3% year-on-year in the third quarter. This figure was also unchanged and in line with experts’ expectations.
“Weak exports had a dampening effect on economic activity in the third quarter, while capital expenditure increased slightly,” said Destatis President Ruth Brand.
Government spending in July-September remained unchanged from the previous three months, while capital expenditure rose by 0.3%. At the same time, consumer spending fell by 0.3%, the first decline in seven quarters.
Exports of goods and services fell by 0.7%, while imports remained unchanged.
In the second quarter, Germany’s GDP fell by 0.2% q/q and rose by 0.3% y/y.
Earlier, the Experts Club information and analytical center released a video analysis of global economic trends and the outlook for the world’s major economies until the end of 2025 – https://youtu.be/kQsH3lUvMKo?si=LnQWU3r2Kd5HesPh
Source: http://relocation.com.ua/germanys-gdp-remained-unchanged-in-the-third-quarter/
The net profit of the state-owned PrivatBank for the first three quarters of 2025 increased by 4.7% compared to the same period last year, to UAH 50.63 billion, which accounted for 42.4% of the total financial result of the banking system, according to data from the National Bank of Ukraine.
According to the regulator’s statistics, another state-owned bank, Oschadbank, with a net profit of UAH 13.88 billion, which is 17.3% more than the figure for the first nine months of last year, and Raiffeisenbank, with a net profit of UAH 1.2 billion, which is 17.3% more than the figure for the first – Oschadbank with a net profit of UAH 13.88 billion, which is 17.3% more than the figure for the first nine months of last year, as well as Raiffeisen Bank – UAH 7.33 billion, which is 19.2% more than last year’s figure.
In the top five most profitable banks, the state-owned Ukreximbank retained its fourth position with a net profit of UAH 6.96 billion, which is 18.5% more than last year, while Universal Bank (mono) came in fifth with UAH 5.10 billion, up 27.7% year-on-year.
In addition, in the third quarter of this year, Universal Bank surpassed Ukrsibbank in terms of total assets and ranked seventh among 60 banks in the market in terms of this indicator.
Positions six to ten were taken by banks whose financial results for the first three quarters of 2025 declined year-on-year.
PUMB took sixth place in the list with a net profit of UAH 4.79 billion, which is 7.6% less than last year, while Ukrsibbank moved to seventh place with a result of UAH 4.11 billion due to an 18.5% decrease in profit, and OTP Bank came in eighth, reducing its financial result by 6.5% to UAH 3.90 billion.
The ninth and tenth positions among the most profitable banks at the end of the first three quarters of the year were taken by the state-owned Ukrgasbank with a result of UAH 3.90 billion (-16.5%) and Credit Agricole Bank with a profit of UAH 3.63 billion (-29.0%), respectively.
Five other banks earned more than UAH 1 billion in net profit in the first nine months of this year: Citibank – UAH 3.18 billion (-13.8%), state-owned Sens Bank – UAH 2.64 billion (-21.9%), Pivdenny Bank – UAH 2.11 billion (+7.9%), A-Bank – UAH 1.22 billion (+21.3%), and Kredobank – UAH 1.10 billion (-11.0%).
Eleven out of 60 banks ended the first nine months of 2025 with a loss
In particular, the largest loss was incurred by RVS Bank, which was withdrawn from the market in early November – UAH 139.6 million against UAH 10.6 million in profit last year, with the financial institution’s assets falling by 63.0% over the year to UAH 1.65 billion.
The second largest loss was incurred by the nationalized PIN Bank – UAH 44.0 million, which also suffered a loss of UAH 34.9 million in the first nine months of last year. Bank Alliance closed the top three with a loss of UAH 42.6 million, having earned a profit of UAH 51.0 million in the first three quarters of last year.
Ukrainians’ spending abroad, which is recorded under the item “travel imports,” will decrease by approximately 10% in 2025 compared to last year and will amount to about $12 billion, according to the forecast of Serhiy Nikolaychuk, First Deputy Governor of the National Bank of Ukraine (NBU).
“In 2023, Ukrainians’ spending abroad reached its peak – about $20 billion. After that, we are seeing a gradual decline: quite sharp in 2024, and this year we expect another decline of about 10%,” he said in a podcast by the Center for Economic Strategy.
Nikolaichuk clarified that Ukrainians’ card payments abroad are included in these statistics as part of imports of services in the “travel” category. At the same time, the reduction in spending is occurring despite the fact that Ukrainian migration continues.
“We estimate that due to migration alone, Ukraine’s population will decrease by about 200,000 people in 2025. But people who have moved abroad are gradually adapting, earning more income locally and using fewer resources from Ukraine, including through card payments,” the NBU representative explained.
According to the National Bank, in the first nine months of 2025, Ukrainians made transactions abroad with Ukrainian bank cards worth UAH 262.0 billion, which is 1.9% more than in the same period last year. Of this amount, UAH 213.9 billion was spent at retail terminals, and UAH 48.1 billion was spent on cash withdrawals.
The number of transactions abroad increased by 9.3% to 275.6 million transactions, of which 270.2 million were non-cash payments, while cash withdrawals accounted for 5.5 million.
The State Property Fund (SPF) of Ukraine is to put eight distilleries worth UAH 250 million up for privatization within the next two months, according to Oleksiy Movchan (Servant of the People), deputy chairman of the Verkhovna Rada committee.
“In 2020, we passed a law in parliament to demonopolize the industry. Today, the state has eight distilleries left, and the State Property Fund must put them up for sale in the next two months. The value of the assets is about UAH 250 million, and the amount of debt is UAH 650 million. This means that the situation with the sale of this attractive asset is complicated, because the buyer will have to pay extra for its purchase,” he wrote on Facebook following a meeting in parliament with representatives of the State Property Fund, the Antimonopoly Committee, and the Ministry of Economy, Environment, and Agriculture.
According to the MP, these facilities should work for the economy, not stand idle.
The privatization of distilleries in Ukraine is part of a reform aimed at demonopolizing the industry, combating the shadow market, and attracting investment.
Large-scale privatization of enterprises in the alcohol industry began in September-October 2020. At the time of the start of privatization, there were 78 state-owned enterprises in the alcohol production sector, of which 41 facilities of the state-owned enterprise Ukrspyrt and 37 facilities of the Ukrspyrt concern were being prepared for privatization.
Currently, the State Property Fund is trying to sell the Zarubinsky Distillery at half the starting price—77.99 million hryvnia, the Borshchiv facility for the production and storage of alcohol (13.8 million hryvnia), and the Kholminsky Distillery (price not announced). In addition, the Uladivsky Distillery and the Korostyshiv Distillery are being prepared for sale.
An Austrian municipal delegation visited Transcarpathia’s first wind farm, implemented by the management company Wind Parks of Ukraine, to learn about the Ukrainian model of decentralized generation and investor partnerships with local communities in wartime conditions.
According to the company’s press release, the delegation to Transcarpathia included the mayor of St. Anton am Arlberg (federal state of Tyrol, Austria) Helmut Mall, and the mayor, member of the Tyrolean Landtag, and chairman of the Committee on European Affairs, Federalism, and the European Region, Benedikt Lench.
Mall noted that this example demonstrates the correctness of Ukraine’s chosen model for the development of renewable energy. According to him, the interaction between a private company and the community yields measurable results for the quality of life in the region.
“In Zakarpattia, we see how renewable energy really works and contributes to the development of communities. It’s a win-win situation: the company produces electricity, and the communities receive funds for roads, schools, and social initiatives,” he said in the press release.
He also stressed that in the context of war, the strategic importance of renewable energy is only increasing, and the creation of decentralized generation sources is becoming not only a matter of development but also of security, given the daily shelling of Ukraine’s energy infrastructure.
Benedict Lench, in turn, praised the partnership format implemented by the management company Wind Parks of Ukraine in cooperation with the local community. He noted that 3% of the proceeds from the sale of electricity from the wind farm go to the local budget and are used for infrastructure and social projects, such as the repair of schools, roads, and other facilities.
“I consider it very positive that private companies are cooperating with communities. Together, we can achieve great results and create good projects,” he said, adding that this is how modern European energy development models work.
The company emphasizes that European representatives’ interest in Ukrainian wind projects is linked to how the energy sector is adapting to the realities of war and using decentralized generation to strengthen the stability of the energy system, especially in regions far from the front line but critical for balancing the system.
According to local authorities, the wind farm in the Nizhnovoritska community has provided over 40 MW of connected capacity since the beginning of 2025, which is one of the highest figures in Ukraine among communities, and the volume of generation exceeded 41 million kWh of “clean” electricity transmitted to the integrated power system.
The management company Wind Farms of Ukraine (TОВ “UK ”Вітропарки України“”) was established in 2011 to develop, build, and manage wind energy projects in Ukraine. According to the industry association UWEA, it is one of the largest energy holdings in the country’s wind energy sector. The company’s activities cover the entire cycle, from design and construction to the operation of wind farms.
According to public data from the state register, the company’s legal address is located in Perechyn, Zakarpattia Oblast, the date of registration is December 28, 2011, and the director is Vladislav Eremenko.
As noted by Forbes Ukraine, the founders of the wind energy business, which includes the management company Wind Parks of Ukraine, were entrepreneur Maxim Efimov and one of the co-owners of ISD, Oleg Mkrtchan, who created Ukraine’s only wind turbine manufacturing plant in Kramatorsk under license from the German company Fuhrländer. Vladislav Eremenko headed the management company.
State-owned Pakistan Petroleum Ltd. will build an island to create a launch pad for accelerating oil and gas exploration. The artificial island will be located approximately 30 kilometers off the coast of the southern province of Sindh, near the city of Sajawal, PPL’s chief executive officer for exploration and core business development, Arshad Palekar, told Bloomberg. According to him, this will prevent tidal waves from interrupting round-the-clock geological exploration work.
This project, the first of its kind for Pakistan, is based on the experience of Abu Dhabi, where artificial islands for drilling have been successfully built, Paleekar said.
Construction of the island will be completed in February, and operations will begin immediately after that, he added. The company plans to drill about 25 wells.
Drilling operations in Pakistan are gaining momentum after US President Donald Trump expressed interest in the country’s “huge oil reserves” in July. Since then, offshore exploration licenses have been issued to local companies PPL, Mari Energies Ltd. and Prime International Oil and Gas Co.
