The eurozone economy is likely to slow down in the third quarter of 2025 due to ongoing uncertainty in foreign trade and the winding down of “advance” purchases, European Central Bank President Christine Lagarde said, speaking in Geneva at the World Economic Forum. According to her, in the first half of the year, the region’s export-oriented economy received short-term support from partners replenishing their stocks ahead of the introduction of tariffs in the US, but this factor is “reversing,” and the slowdown was already noticeable in the second quarter.
Lagarde clarified that under the agreement reached between the EU and the US, the “effective average rate” of tariffs on imports from the eurozone is estimated at between 12% and 16%, which is slightly higher than the assumptions of the ECB’s June baseline forecast, but significantly lower than the stress scenario (over 20%). The impact of the deal will be reflected in the ECB’s September macro forecasts, she noted.
According to Eurostat estimates, eurozone GDP grew by only 0.1% q/q in Q2 (after +0.6% in Q1), while July inflation remained at the target 2% year-on-year. Both factors support the scenario of low growth rates with stable “anchor” inflation.
The market as a whole expects the ECB to keep its deposit rate at 2.00%, continuing to assess the impact of tariffs and external conditions on growth prospects. (The meeting schedule is available on the ECB website; the current rate is confirmed by official statistics and national regulators.)
A combination of factors — the receding effect of frontloading, new trade costs (12–16% at the effective average rate) and moderate PMIs — increases the likelihood of a stagnation scenario in the second half of the year: the economy will hover around zero, and growth momentum will depend on the stability of domestic demand and clarity on industry tariffs (pharmaceuticals and semiconductors remain areas of uncertainty).
Food Technologies of Transcarpathia LLC will invest more than UAH 43 million in the construction of a modern sports complex in the village of Bolshiye Komyaty (Vinogradivka community) in Transcarpathian region, head of the regional military administration Volodymyr Mikita said in Telegram. He noted that the project provides for the construction of a soccer field, stands, special premises and running tracks for athletics. The concept is based on the need to create conditions for sports activities for children who study and live in the local community, as well as neighboring communities. The initiative will reach more than a thousand children of different age groups.
“This is the first such project in these territories, which is being implemented since the independence of Ukraine. The investment of the enterprise LLC “Food Technologies of Transcarpathia” in the construction is more than 43 million UAH. The Hromada has allocated the territory for the creation of infrastructure and will ensure the functioning of the Children’s and Youth Sports School with the appropriate staff of coaches”, – wrote the head of ZOVA.
LLC “Food Technologies of Transcarpathia” was founded in 2010 in Beregovo, Transcarpathian region. It specializes in the production of ready-made pet food, which it sells under the TM “Pan Dog-Pan Cat”, “Miss Kis – Mister Gaff”, “Carpatian Pet Food”. The beneficiary of the enterprise is businessman Andriy Hrypta, who is also the owner of Ecogreenpark LLC, RES Zakarpattya LLC, Residents Avenue Mall LLC, Trans Logistic Zakarpattya LLC.
Ukraine is increasing exports of sunflower oil to India. In July 2025, it supplied 78,000 tons to this country, which is 57% more than in June, according to the analytical agency UkrAgroConsult.
The agency cited Indian sources, according to which Ukrainian oil accounted for 39% of total imports of this product to India in July, which amounted to 200,000 tons. Thus, for the first time since the start of the war,
Ukraine has overtaken Russia, whose exports to India in this segment amounted to 49,000 tons, or 25% of the total volume imported into the country.
“In recent seasons, Russia has dominated the Indian sunflower oil market, while Ukraine’s share has fluctuated between 13% and 34%. However, in the second half of the 2024/25 season, Russian producers reduced production volumes due to low profitability, which led to a decrease in supply on foreign markets. An additional factor was the non-zero export duty on Russian oil,” experts explained.
According to analysts, Ukraine exported 767,000 tons of sunflower oil to India between September 2024 and July 2025, which is 55% more than in the same period of the previous season.
“This figure is a record since 2022, confirming India’s position as a key importer of Ukrainian oil. The growth in exports reflects the stable recovery of Ukraine’s position in the global market,” UkrAgroConsult concluded.
In 2024, Ukraine entered the TOP 3 global leaders in honey exports and ranked third with 85.8 thousand tons, according to the Ukrainian Agribusiness Club (UABC).
Analysts noted that China and India ranked first and second among the world’s top five honey exporters last year, with 169,600 tons and 94,800 tons, respectively. Argentina (78,100 tons) and Vietnam (48,200 tons) ranked fourth and fifth.
“Honey is probably one of the few components of Ukrainian agricultural exports that has not been affected by the blockade of seaports by Russian troops, as its main consumers are European countries. Previously, the duty-free quotas for this product, which were allocated under the Association Agreement with the EU, were exhausted by Ukrainian exporters in a matter of days — sometimes as early as January 4. After the European Union abolished duties and fees on Ukrainian exports, Ukrainian beekeepers had profitable export opportunities,” the experts explained.
According to their information, the largest buyers of Ukrainian honey in 2024 were Germany (18.9 thousand tons), the United States (12.1 thousand tons), Poland (9.7 thousand tons), France (9.6 thousand tons), and Belgium (7.1 thousand tons). In addition, Ukrainian honey was present in other markets, namely Turkey, Great Britain, Japan, Switzerland, Canada, Qatar, Jordan, etc.
However, in 2025, the EU reintroduced quotas on Ukrainian honey, creating additional barriers to exports.
“Although the quotas are significantly higher than before, they still do not cover Ukraine’s entire export potential. At the same time, this is an important step that helps Ukrainian producers remain competitive in the European market, which remains key for the sale of Ukrainian honey,” the UCA concluded.
A new study in The Lancet Planetary Health (ISGlobal, 654 regions, 32 European countries, 2004–2022) has shown that small particles of smoke from fires (PM₂.₅) increase the risk of death more than “normal” urban aerosols of the same size. For every +1 μg/m³ of “fire” PM₂.₅, overall mortality increases by 0.7%, respiratory mortality by 1%, and cardiovascular mortality by 0.9%. Previously, mortality from smoke was underestimated by 93%: instead of ≈38 cases per year in Europe, the figure is ≈535.
Ukraine — in the spotlight
The analysis covers 32 European countries and shows a more pronounced effect in Eastern Europe — the conclusions are directly relevant to Ukraine, where seasonal landscape fires and smoke transport from neighboring regions lead to “peak” pollution days.
On “smoky” days, even a small increase in PM₂.₅ has a measurable effect on mortality among vulnerable groups (the elderly, people with asthma/cardiovascular disease). Cities should prepare alerts and clean air zones (hospitals, schools, hubs) in advance, and residents should close windows, use air purifiers, limit outdoor activities, and wear FFP2/FFP3 masks outdoors when levels exceed the threshold.
Aerosols from fires contain a different profile of toxicants and are more potent than particles from transport/industry, so it is incorrect to “combine” them with conventional PM₂.₅: the risks are higher, and response measures should be separate.
Primary source: The Lancet Planetary Health / ISGlobal (study on the short-term effects of “fire” PM₂.₅ on mortality in Europe). ISGLOBAL
The number of written appeals to the National Bank of Ukraine on the activities of insurance companies in the second quarter of 2025 decreased by 9.3% – to 321, oral appeals through the contact center – by 18%, to 41, according to the report on the work with appeals of consumers of financial services in the mentioned period.
“We observe a tendency to decrease the number of written appeals on the work of financial, collection companies and insurers. At the same time, we note an increase in the number of questions regarding the work of banks of all forms of ownership,” the report says.
It is noted that the share of identified violations in written appeals regarding the activities of insurers is 22%, state banks – 2.8%, private banks – 1.8%, foreign banks -1.3%, financial companies – 21%, collection companies – 34%.
Appeals regarding the activities of insurers relate to disputes when the consumer received compensation not in full or did not receive it at all.
According to the NBU, the reasons for such problems vary from violations of legislation on the part of insurers to the provision of false data on the occurrence of an insured event by the consumer. In addition, the amount of compensation for material damage may differ from the actual amount due to the expert opinion of the involved insurer’s specialist and the application of depreciation in the calculation of material damage, which is determined by the current legislation or the terms of the contract.
