Agricultural production in Ukraine increased by 1.7% in January–February 2026 compared to the same period last year, according to the State Statistics Service (SSS).
According to the agency’s data, the growth was driven exclusively by the livestock sector (index 101.7%), while data on crop production for this period are traditionally unavailable.
The main driver was agricultural enterprises, which increased production by 8.9%. The best performance in this segment was shown by enterprises in the Donetsk (index 162.5%), Lviv (132.9%), and Volyn (135.0%) regions. Overall, growth among enterprises was recorded in 20 regions.
In contrast, a decline was observed in private households: production volumes fell by 14.8% compared to January–February 2025. The largest declines in the private sector were recorded in the Donetsk (index 35.3%), Ternopil (50.9%), and Zakarpattia (63.8%) regions.
Regionally, across all categories of farms, the largest declines in production volumes were recorded in Donetsk (index 60.5%), Zakarpattia (68.3%), and Chernivtsi (82.9%) regions. At the same time, the leaders in overall growth were Vinnytsia (+22.9%), Lviv (+22.7%), and Kirovohrad (+7.6%) regions.
As reported, in January 2026, agricultural production in Ukraine increased by 3.2% compared to January 2025. Thus, over the course of two months, the growth rate slowed slightly.
Revenues to local budgets from the tourist tax for January–February 2026 amounted to 72.5 million UAH, which is 25% higher than the figure for the same period in 2025 (58 million UAH), according to the State Tax Service of Ukraine (STS).
According to data published on the STU website, the largest revenues were traditionally generated by tourist-attractive regions: Kyiv took the lead (16.2 million UAH). Significant amounts were also received in Lviv Oblast (15 million UAH), Ivano-Frankivsk Oblast (11.8 million UAH), and Zakarpattia Oblast (5.9 million UAH).
“The tourist tax is an important source of revenue for local budgets. Thanks to these funds, communities have the opportunity to develop infrastructure, improve tourist sites, support the hospitality sector, and create comfortable conditions for both guests and residents,” the STU emphasized.
The agency reminded that the taxpayers of this fee are Ukrainian citizens, foreigners, and stateless persons who are temporarily staying in accommodations (hotels, hostels, guesthouses, etc.). Tax agents are business entities that provide temporary accommodation services—they are the ones who calculate and remit the fee to the budget.
The Experts Club analytical center has released a new video study devoted to the dynamics of public debt of countries around the world in relation to GDP in 1950-2025. The visualization shows how the debt burden in different economies has changed over the past 75 years – from post-war recovery and debt crises to the pandemic and the current stage of expensive borrowing. The final slide focuses on the situation in 2025, when Ukraine, according to the international methodology used in the study, also entered the group of 20 countries with the highest debt burden.
The study is based on IMF DataMapper and World Economic Outlook data for October 2025 using the general government gross debt indicator. According to IMF estimates, the global level of public debt in 2025 reached 96.8% of world GDP, while for advanced economies the average figure was 111.8% of GDP. This means that the debt burden remains systemically high not only in vulnerable countries, but also in the world’s largest economies.
According to the data used in the video, in 2025 the countries with the highest debt burden included primarily Sudan, Japan, Singapore, Greece, Bahrain, the Maldives, and Italy. The same group also included the United States, France, and Canada, while Ukraine, with an indicator of about 108.6-110% of GDP, also found itself in the upper part of the global anti-ranking and, according to these estimates, entered approximately the first dozen countries by the debt-to-GDP ratio. For comparison, the database for 2025 indicates a level of 108.6% of GDP for Ukraine, 128.7% for the United States, 119.6% for France, 138.3% for Italy, and 226.8% for Japan; in summary international tables based on the same IMF estimates, similar values appear, where Ukraine is shown at around 110% of GDP.
For Ukraine, this result is especially indicative. According to IMF DataMapper, in 2025 the total public debt of the general government sector reached 108.6% of GDP. VoxUkraine, analyzing the same IMF database, notes that this is the highest level for the entire observation period for Ukraine. At the same time, the Ministry of Finance of Ukraine reported that state and state-guaranteed debt at the end of 2025 amounted to 98.4% of GDP. The difference is explained by methodology: IMF international comparisons use the broader general government gross debt indicator, so it is precisely this indicator that is suitable for the global ranking shown in the Experts Club study.
“Our study shows not just the size of the debt, but the country’s place in the global system of risks. In Ukraine’s case, entry into the group of countries with the highest debt burden is a direct consequence of the war, the large-scale need for budget financing, and dependence on external support. But at the same time, it is also a reminder that after the end of the war one of the key challenges will be not only the recovery of the economy, but also the building of a long-term debt management strategy,” noted Experts Club founder and PhD in Economics Maksym Urakin.
In a broader context, the video demonstrates that high debt is no longer an exception only for crisis states. Among the countries with the largest debt burden today are both economies with prolonged structural imbalances and developed states with deep domestic capital markets. That is why the comparison of 1950 and 2025 shows the main shift: the debt model has become the norm of the global economy, while the issue of debt sustainability now depends not only on its size, but also on the cost of servicing, GDP growth rates, the structure of creditors, and the state’s ability to maintain investor confidence.
For Ukraine, based on the 2025 data, the main conclusion of the study is that the country has already crossed the psychological threshold of 100% of GDP according to the international methodology and entered the global group of the most highly indebted states. This does not mean an automatic debt crisis, but it does mean that the issue of post-war fiscal sustainability, restructuring of liabilities, the cost of new financing, and acceleration of economic growth will be among the central topics of economic policy in the coming years.
Prices for all types of fuel rose by 1–3 UAH/liter on Friday compared to Thursday; against this backdrop, PJSC “Ukrnafta” lowered the price of A-95+ by 3 UAH/liter, bringing it in line with A-95, according to data monitoring on websites and in network apps conducted by the “Energoreforma” internet portal.
According to the data, three of the surveyed gas station chains raised diesel fuel prices by 3 UAH/liter: Socar, WOG, and UPG, with the first two currently selling diesel at 84.99 UAH/liter and diesel+ at 87.99 UAH/liter. The same price applies at OKKO, which brought its prices in line with this level by raising them by 2 UAH/liter. UPG lists prices of 82.9 UAH/liter and 85.9 UAH/liter, respectively.
State-owned “Ukrnafta,” following a 2 UAH/liter increase in diesel prices, has a diesel price of 77.99 UAH/liter and diesel+ at 81.99 UAH/liter, which is the lowest among the surveyed networks.
The price of gasoline increased by 1 UAH/liter at OKKO, by 2 UAH/liter at WOG, and by 3 UAH/liter at Socar and UPG, but UPG’s price remains the lowest among private chains. Meanwhile, the state-owned “Ukrnafta” left the price of A-95 unchanged and reduced the price of A-95+ by 3 UAH/liter. For both types of fuel, it stands at 68.99 UAH/L.
Fuel prices (averages) as of March 20 compared to March 19 (based on monitoring by “Energoreforma” of network websites and apps*).
*Not all gas stations provide up-to-date prices on their websites and in their apps
As reported, at the beginning of last month, Serhiy Kuyun, director of the consulting firm A-95, predicted that diesel fuel prices would rise to 80 UAH/liter by the end of the month and noted the conditions for a further increase to 90 UAH/liter. At the same time, he indicated that he does not believe diesel fuel will reach 100 UAH/liter. According to him, since price spikes have affected many countries, the global economy cannot sustain such prices, and every effort will be made to offset the increase. He added that gasoline prices will rise only slightly.
The real estate markets of Vietnam, Thailand, Cambodia, and Bali will be in different phases of the cycle by 2026, but they share one common factor—the significant role of foreign demand. That said, the degree of dependence on foreign buyers, the supply structure, and price levels vary significantly across these markets.
Vietnam currently appears to be the most balanced of these markets. Here, the recovery is driven primarily by domestic demand, while foreigners play an important but not dominant role. In Hanoi, the average price of new apartments has already reached about $3,800 per square meter, while in the coastal city of Da Nang, the primary market stands at $2,200–2,300 per square meter. Foreigners can only purchase housing in approved commercial projects, cannot directly own land, and their share is limited by quotas, specifically to 30% of the apartments in a single condominium.
This is precisely why Vietnam remains largely a market for local buyers, while foreign demand is concentrated in the premium segment and in the largest cities. Among the key foreign groups in the market, citizens of South Korea, China, Singapore, Japan, and some overseas Vietnamese are typically cited. Russians are present mainly in resort locations, primarily in Nha Trang, while Ukrainians are also found among renters and individual buyers, but their share in publicly available statistics is not disclosed and remains niche.
Thailand, on the other hand, is much more dependent on external demand, especially in the condominium segment. According to REIC, in 2025, foreigners completed 14,899 condominium transactions, which is 2.2% more than the previous year. They accounted for 14.7% of all property transfers by volume and 25% by value. Chinese buyers retained the top spot among foreign buyers, Myanmar moved up to second place, and Russia remained among the largest groups.
In terms of prices, Thailand is significantly more expensive than Vietnam, especially in the capital and major resort areas. In Bangkok, the average price of condominiums in early 2026 was estimated at approximately $4,200–4,300 per square meter, and in central districts, the price was even higher. In Phuket, the median price of condominiums as of 2025 was about 144,000 baht per square meter, which corresponds to approximately $4,000 per square meter at the current exchange rate. The law allows foreigners to own units in condominiums but not the land, with the foreign quota in a project limited to 49% of the total area.
In Thailand, the role of foreigners is already directly influencing market dynamics in Bangkok, Pattaya, and especially Phuket. Russians remain one of the most prominent groups of buyers in resort regions, while Ukrainians, although not officially in the top 10, are considered by market estimates to be among the most active second-tier buyers and are primarily active in resort real estate.
Cambodia appears to be a riskier market, but also one more dependent on foreign capital. Following a boom and subsequent downturn, the market in Phnom Penh and Sihanoukville is recovering more slowly than in Thailand or Vietnam. In Phnom Penh, prices for condominiums in the business district are around $2,746 per square meter, and the market as a whole remains under pressure due to a high supply base and slower absorption.
The Cambodian market has historically been closely tied to Chinese capital, especially in Sihanoukville, and this dependence persists. Foreigners can purchase apartments but not land, making condominiums the primary vehicle for foreign investors. At the same time, there is virtually no comprehensive, up-to-date official breakdown of homebuyers by nationality available to the public. According to market reviews, the largest foreign groups remain the Chinese, as well as investors from South Korea, Singapore, and Malaysia. The presence of Russians and Ukrainians in this market remains limited and has no significant impact on the overall demand structure.
Bali occupies a special place among this quartet, as it is not a separate country but Indonesia’s most internationalized resort market. The driver here is not so much local demand as it is tourism, short-term rentals, digital nomads, and relocation. In 2025, Bali welcomed 6.33 million foreign tourists, a 9.7% increase from 2024, with Australia remaining the largest source market by visitor numbers.
Prices in Bali depend heavily on the property type and location. According to market surveys, the average selling price in 2025 was approximately $1,970 per square meter, and by early 2026, the average price in the villa market had risen to about $2,210 per square meter. At the same time, in the central areas of Badung, prices often exceeded $3,000 per square meter, and the average cost of villas, according to some surveys, rose from approximately $321,000 to $484,000 per property over 12 months. For foreigners, the primary option remains long-term leasehold, as direct land ownership is restricted.
Foreigners play a key role in Bali, but statistics on the nationalities of homebuyers here are less transparent than in Thailand. Based on tourism and market trends, Australians, British, Americans, and Russians are the most prominent. Since 2022, the market has also seen growing interest from Ukrainian citizens, primarily in the rental, relocation, and some investment purchase segments. However, as in Cambodia, there is no complete official breakdown by buyer nationality available to the public.
If we compare these four markets based on their market models, Vietnam currently appears to be the most internally stable and less dependent on foreigners. Thailand is the most transparent and institutionally developed market for foreign buyers, where the influence of foreign capital is already well-documented by statistics. Cambodia remains a more speculative market dependent on specific external groups. Bali, on the other hand, is a story of global mobility, tourism, and rental yields, where foreign demand effectively drives a significant portion of price dynamics.
In terms of price levels, capital cities and resorts also fall into different tiers. Bangkok and select projects in Phuket remain the most expensive in this group, followed by Hanoi. Da Nang and Phnom Penh fall within the mid-range price bracket, while in Bali the spread is particularly wide: from relatively affordable properties outside premium zones to expensive villas in Chang, Seminyak, and Bukit.
For an investor from Ukraine, this quartet looks like this: Thailand and Bali are the most straightforward markets for a resort strategy and rental income, but also the most dependent on external market conditions; Vietnam is more complex from a legal standpoint but has a strong domestic market; Cambodia is a potentially more profitable but also riskier market. At the same time, Ukrainians are already present in the Thai and Balinese markets, while in Vietnam they primarily operate as a niche group in resort locations.
Source: https://expertsclub.eu
The Bali real estate market is experiencing robust growth in 2026, driven by the recovery of tourism and an increase in the number of foreign residents, particularly digital nomads and investors. The main areas of demand are concentrated in Canggu, Seminyak, Ubud, and Uluwatu. These are the areas that form the premium segment of the market and attract international capital.
Prices for real estate in Bali vary significantly depending on the property type. In the villa segment, prices average between $1,500 and $3,500 per square meter, and higher in premium projects. Ready-to-rent villas are sold in the range of $150,000–500,000 per property and above.
Indonesian law restricts foreign ownership of real estate, so the primary model remains a long-term leasehold for 25–30 years with the option to renew.
Foreigners play a key role in the Bali market. In some locations, they account for 60–70% of all transactions, particularly in the rental villa segment.
The main buyer groups are citizens of Australia, the UK, the US, and European countries. In recent years, the presence of investors from Russia and Ukraine has grown significantly, especially after 2022.
Russians have become one of the most prominent groups in the Bali market, actively investing in villas and the rental business. Ukrainians are also present among investors and renters, driving part of the demand in the remote work and relocation segment.
Thus, Bali is one of the real estate markets in the world most dependent on foreign capital, where price dynamics are directly linked to global population mobility and the trend toward remote work.
