Ukraine’s real gross domestic product (GDP) grew by 1.1% in May 2025 compared to the same month in 2024, according to the Monthly Economic Monitor of the Institute for Economic Research and Policy Consulting (IER).
“The State Statistics Service has begun to publish data on industry more quickly, which allows us to assess the state of the Ukrainian economy more accurately. The new data show that growth rates remain low, although certain positive signals are already emerging,” according to the results of the study published on the IER website on Thursday.
According to the IER, real gross value added (GVA) growth in the manufacturing industry accelerated to 2.4% in May compared to 2024, up from 1.4% in April after a decline in March. This indicator was supported by more stable domestic demand.
In addition, companies faced fewer problems with access to electricity in May. According to the IER’s estimates, real GVA in electricity grew by 3% year-on-year in April and 4.8% in May. The decline in the extractive industry slowed to 10.4% (compared to 2024) in May due to a slight recovery in gas production and an increase in the extraction of construction raw materials.
According to the State Statistics Service, retail trade turnover grew by 4.8% in the first quarter. Data on wholesale trade has not yet been released, but the IER assumes that it continued to decline slightly due to the ongoing transition to direct sales and reduced use of warehouses due to shelling by the Russian army. Therefore, real GDP growth in trade in April and May is estimated at 2% year-on-year, although wages continue to rise rapidly.
Real GVA in agriculture declined by 2.4% year-on-year in May, which is close to April’s figures. This reflects a decline in livestock production by households, which was not offset by a slight increase in production by enterprises.
The IER estimates that real GVA in transport declined by 6.4% in May compared to the previous year. The slowdown in rail freight transport continued, and the impact of the suspension of gas transit persisted, although growth was observed in other transport sub-sectors.
In the first five months of 2025, Ukrzaliznytsia transported 22.2 million tons of cargo to ports. In particular, 12.7 million tons of grain were transported, of which 11.4 million tons were for export (to ports and the western border). This figure is 30% lower than in January-May 2024.
“The decline in rail transport reflects a seasonal trend in lower grain sales in anticipation of the new harvest,” the IER explains.
In addition, electricity imports rose by 3.6% in May compared to April, to 198,000 MWh. Most of the electricity was supplied from Hungary (40%). Electricity exports in May fell by 41% compared to April, to 93,000 MWh.
As for gas, the IER warns of the threat of a shortage if not all production capacities are restored after the Russian shelling. Currently, the shortage is estimated at approximately EUR 1 billion. As of mid-May, 6.14 billion cubic meters of gas had been accumulated in underground storage facilities (UGS).
As noted, the May level of UGS filling was the lowest in the last 11 years. Last month, 11.7 TWh, or more than 1.1 billion cubic meters, of gas was sent to UGS, which is 49% more than in May last year. Of this, about 500 million cubic meters came from abroad, while a year ago such inflows were close to zero.
“This indicates that the injection of Ukrainian-produced gas into storage facilities in May was not much lower than last year’s figure. The average daily injection rate in May was 376 GWh, or approximately 36 million cubic meters, and in the first 16 days of June, it rose to 463 GWh, or 45 million cubic meters,” the IER said.
The average price per square meter in new buildings in Kyiv in mid-2025 is $1,924/sq. m (equivalent to 80,100 UAH/sq. m), which is 1.2% lower than at the beginning of the year, according to the press service of the investment and development company City One Development. by the press service of the investment and development company City One Development.
According to the company’s experts, based on their own analytical database, the cost of new buildings fluctuated minimally in all segments. At the same time, most classes saw a slight increase: economy by 0.5% to $1,054/sq. m, comfort by 1% to $1,325, and premium by 2% to $4,498. Average prices for business-class properties fell by 0.4% over six months and now stand at $2,394 per square meter.
“The primary real estate market in Kyiv is indeed showing gradual price growth, driven by several key factors. First of all, this is the increase in construction costs caused by the rise in prices for materials, electricity, logistics, labor, etc. Real estate remains a reliable asset, especially in times of instability, which stimulates investment interest,” comments City One Development analyst Elena Shirina.
According to her, the traditional rise in prices during the construction stages also plays a role—the closer the property is to completion, the more expensive the apartments become. Inflation supports the trend toward rising housing prices, as real estate does not lose value during periods of general price increases.
According to the study, as of mid-2025, there were 143 residential complexes for sale, which is 25% less than at the beginning of the war. In the first half of 2025, sales started in several new residential complexes in Kyiv. New projects indicate restrained but positive dynamics in the market and attempts to form a long-term offer.
Developers are adapting their projects in response to new buyer expectations. A characteristic feature of the pricing policy for new residential complexes is the inverse relationship between price and floor level—the lower the floor, the higher the cost, which is the opposite of previous trends. Autonomy and security are important factors. More and more new buildings are equipped with backup power supplies (generators, inverters, solar panels). And 75% of new buildings provide shelters: underground parking lots, basements, specialized bomb shelters.
According to the company’s analytical database, almost half of developers in new projects offer housing for sale under the state programs “єОселя” and “єВідновлення.”
Overall, the primary real estate market in Kyiv in the first half of 2025 is showing stability, cautious developer optimism, and a gradual recovery of investor confidence. According to Shyrina, weak demand during the war is limiting active price growth, as many buyers are postponing their decisions to purchase real estate. This creates a balance between the growth in the value of high-quality properties and the restraint on pricing due to the population’s insufficient purchasing power.
In the spring, developers became more active: they began to raise prices and launch new projects, relying on optimism about the possible end of hostilities. However, the escalation on the front lines, shelling, and alarming news have again slowed this momentum, affecting consumer sentiment and their willingness to invest.
“After the end of the active phase of the war, a significant increase in the cost of housing in high-quality projects is expected. Investors who invest in reliable residential complexes now will receive the maximum increase in value in the future,” Shyrina explained.
City One Development is an investment and development company with over 15 years of experience. It specializes in the creation, implementation, and management of large-scale infrastructure residential complexes, as well as actively investing in the development of Ukrainian industry.
City One Development’s portfolio includes over 1.15 million square meters of completed projects and 600,000 square meters under construction.
The company’s residential projects in the capital include Novopecherski Lypky, Boulevard of Fountains, Svyatobor Park Resort, and The Light. Its industrial projects include two float glass factories within the City of Glass and Galicia industrial parks.
The international home goods retailer JYSK opened a new store on Thursday in the Karavan shopping center, one of the largest shopping and entertainment centers in Dnipro, according to the retailer’s press service.
“We are delighted to be even closer to our customers in Dnipro. The Karavan shopping center is a popular destination visited by thousands of city residents every day. The new JYSK store will make high-quality home goods even more accessible,” said Yevgen Ivanytsia, Country Director of JYSK in Ukraine.
The opening of this store, which is the 109th in the chain in Ukraine, confirms the company’s strategic course of development and expansion even in wartime.
The store at 17 Nizhnedniprovska Street has a retail area of 1,069 square meters, as well as 192 square meters of warehouse space with 5-meter-high equipment and 32 square meters of office space. The store is designed in accordance with the Store Concept 3.0, which features a modern interior, convenient navigation, and an inspiration zone for shoppers.
JYSK currently operates in 37 cities in Ukraine. In addition, there is an online store at jysk.ua.
The company employs over 800 people in Ukraine.
JYSK is part of the family-owned Lars Larsen Group, which has over 3,500 stores in 50 countries.
JYSK’s revenue in the 2023/24 financial year was EUR5.6 billion.
On June 19, Kirovogradoblenergo announced its intention to conclude a contract with VUSO Insurance Company for compulsory motor third party liability insurance. According to the Prozorro electronic procurement system, the expected price for the services was UAH 900,000. The company’s price offer was UAH 682,053.
The company won a similar tender a year ago. VUSO Insurance Company was founded in 2001. It is a member of the Motor Transport Insurance Bureau of Ukraine and the National Association of Insurance Companies of Ukraine, a participant in the agreement on direct settlement of losses, and a member of the Nuclear Insurance Pool.
INSURANCE, OSAGO, VUSO Insurance Company, Кіровоградобленерго
European building materials manufacturer Calmit GmbH, which specializes in the production of lime, plans to set up a plant in Transcarpathia.
“Calmit GmbH has subsidiaries throughout Europe, and soon another one may appear in the Batovo community,” said Myroslav Biletsky, head of the Transcarpathian Regional State Administration, following a meeting with Peter Vanish, Calmit GmbH’s representative responsible for the project in Ukraine (Slovakia), on Wednesday.
According to him, investors are considering Transcarpathia as a site for their new plant. Its representatives have already visited the site.
“The village of Batevo meets the requirements of customers: proximity to the border, the possibility of connecting to broad and narrow gauge railways, and, in the future, establishing logistics for raw materials and finished products. However, all technical conditions still need to be analyzed before the launch. We are communicating with the company’s founders and its representatives in Ukraine, as well as the local community, so that the new foreign-invested enterprise can start operating in Transcarpathia as soon as possible,” Biletsky said.
Calmit GmbH is part of Schmid Industrieholding, one of Europe’s leading lime producers, with seven production facilities in Austria, Hungary, Slovakia, and Spain.
16 billion current passwords leaked online, including access to Apple, Google, and Facebook
According to Forbes, researchers from Cybernews have recorded a unique leak — more than 16 billion current login and password pairs on sites including Apple, Google, Facebook, and other services.
This is the largest leak in history: 30 different databases, each containing tens of millions to 3.5 billion records. About 184 million accounts from previous leaks were already known, while the rest is new, “fresh” and vulnerable information.
The data is suitable for instant phishing attacks and account hacks — the login-password structures are ready to use. These are not old leaks, but new, fresh lists that are actively being sold on dark forums.
What experts advise:
• Change passwords for all important online accounts (Google, Apple, social networks, email, etc.).
• Enable two-factor authentication (2FA) — via SMS, code generator app, or hardware keys.
• Switch to passkeys — password-less logins protected by biometrics or PINs, recommended by Google and Meta.
• Use a password manager to generate long, unique combinations and store them securely.
• Do not click on links from unverified SMS messages, emails, or messengers to avoid phishing.
Even old passwords (even “12345678”) are still relevant — they are often used in such leaks. After leaks, many people do not change them in time: according to research, only ~33% of users update their password after an incident — and only 13% do so within 3 months.
