According to the results of 2025, Ukraine’s national currency, the hryvnia, remained relatively stable overall, despite pressure from the war, high budget expenditures, and volatility in foreign markets, according to the Experts Club information and analytical center.
Throughout the year, the official hryvnia-to-dollar exchange rate showed moderate fluctuations within the established corridor, remaining under the control of the National Bank of Ukraine (NBU). The cash and interbank markets saw short-term surges in demand for foreign currency, mainly during periods of peak budget payments and increased import activity, but these were quickly smoothed out by the regulator’s currency interventions.
According to market participants, the key factors supporting the hryvnia in 2025 were regular inflows of international financial assistance, the preservation of administrative measures of currency regulation, and the NBU’s policy of supporting the attractiveness of hryvnia instruments. International reserves also played a significant role, remaining at a level sufficient to cover short-term external obligations throughout the year.
At the same time, the hryvnia exchange rate continued to be pressured by the structural external trade deficit, high military and social spending, and uncertainty related to the duration of hostilities and the volume of future external support.
Quotations on the interbank currency market of Ukraine (UAH per USD, period from 01.01.2025 to 31.12.2025)
Maksym Urakin, founder of the Experts Club analytical center, notes that 2025 was a period of “managed stability” for the hryvnia.
“The hryvnia is ending the year without any sharp devaluation shocks, which, in the context of full-scale war and high budget dependence on external financing, can be considered a cautiously positive result. The key stabilizing factor remained the coordination of monetary and fiscal policy with the support of international partners,” he said.
According to him, maintaining control over the currency market has helped to avoid panic among the population and businesses, but in the medium term, the risks for the hryvnia remain high.
“The further dynamics of the exchange rate will directly depend on the volume of foreign aid, the situation on the front lines, and the pace of economic recovery,” Urakin stressed.
Inflationary processes in 2025 also remained one of the sensitive factors for the currency market. Rising consumer prices increased demand for currency from the population, but this effect was partially offset by monetary policy measures and the maintenance of capital movement restrictions.
The NBU has repeatedly emphasized that its exchange rate policy remains flexible and adaptive, and that the regulator’s priority is financial stability and inflation control, rather than achieving formal exchange rate targets.
Experts note that in 2026, the hryvnia’s dynamics will largely depend on the pace of economic recovery, the volume of international aid, and decisions on further currency liberalization.
The Experts Club analytical center analyzed Albania’s economy for the first 10 months of 2025 and presented its analysis and forecast. Based on the results of the first ten months of 2025, Albania continues to have one of the highest growth rates in Europe, with low inflation, stable currency reserves, and continued growth in tourism, but it faces a slowdown in industrial output and an expanding trade deficit.
According to IMF mission estimates and national statistics, Albania’s real GDP grew by approximately 3.4–3.6% year-on-year in the first half of 2025, which is comparable to 2024 figures and above the European average. The main drivers of growth remain the service sector, construction, and tourism: foreign tourists alone spent around €2.1 billion in the country in the first six months, which is 7–8% more than a year earlier.
International institutions expect the economy to grow by around 3.4-3.7% by the end of the year: after its autumn mission, the IMF raised its forecast to 3.5% for 2025, while the World Bank and the EBRD also expect growth of over 3%.
Inflation in the country remains low and close to the target level. According to the IMF and national statistics, annual consumer price inflation in 2025 is around 2–2.3%.
The labor market situation is improving moderately. The unemployment rate in the second quarter of 2025 fell to 8.5%, which is significantly below the historical average (around 14%).
Industry remains the most vulnerable sector. According to estimates by research centers and statistics, industrial production in Albania in the first quarter of 2025 declined by approximately 2.1% compared to the same period in 2024, while in the second quarter the decline slowed to around 0.5%. Manufacturing output in June 2025 was 0.9% lower than a year ago. This reflects the problems of traditional export industries, primarily textiles and clothing, which are under pressure due to the strengthening of the national currency and demographic outflow.
The external sector remains a weak spot in the macroeconomy. According to Albanian think tanks and INSTAT, the trade deficit in goods widened to about 25.3% of GDP in the first half of 2025, despite high tourism revenues. Remittances from migrants grew by about 5% to €1.2 billion, remaining an important source of external revenue, while foreign direct investment stabilized at around €1.1 billion over the same period.
At the same time, external stability appears comfortable. According to Trading Economics, Albania’s international reserves reached $7.3 billion in September 2025. In its final Article IV statement, the IMF explicitly notes “strong reserves, declining public debt, and one of the highest growth rates in Europe” as a basis for further reforms and deeper integration with the EU.
Fixygen analyzed the importance of regulators and their role in the crypto asset market. The cryptocurrency market is becoming increasingly sensitive to the rhetoric of central banks and the actions of financial regulators. Against the backdrop of expectations of interest rate changes and tighter rules for stablecoins and exchanges, the regulatory agenda is becoming one of the main drivers of price movements.
In its latest comments, the US Federal Reserve has allowed for the possibility of lowering the key rate in 2025, provided that inflation is under control. For cryptocurrencies, this is a signal of a potential increase in risk appetite and growth in liquidity in financial markets. The Fed’s policy easing traditionally supports interest in Bitcoin, Ether, and major altcoins, as investors are more actively engaging in strategies in the high-yield asset segment.
The European Central Bank maintains a more hawkish rhetoric, emphasizing the need to keep rates high to combat inflation, but at the same time notes a slowdown in the eurozone economy. This situation limits the inflow of European institutional capital into the crypto market in the short term, but reinforces expectations of future easing, which could be an additional stimulus for digital assets in the medium term.
The UK, through the Financial Conduct Authority, is tightening rules for stablecoins and crypto exchanges. The regulator is introducing stricter requirements for issuers’ reserves, transaction transparency, and investor protection. This increases the reliability of large stablecoins and infrastructure players, but may drive some smaller and less transparent projects out of the market.
Japan and South Korea are continuing their policy of tightening control over the crypto market with a focus on protecting retail investors. This includes stricter token listing rules, increased requirements for proven reserves, and exchange liability for fraudulent schemes. At the same time, these countries remain among the most technologically advanced markets, where digital finance and trading platforms are actively developing.
China officially maintains a tough stance on cryptocurrency trading, but at the same time promotes state blockchain solutions and the digital yuan. Through Hong Kong and special regimes for fintech companies, projects in the field of Web3 and tokenization are supported. Any easing or new pilot regimes in Hong Kong quickly affect regional liquidity and activity on Asian platforms.
Taken together, the statements and actions of regulators are creating a complex but gradually more structured environment for the cryptocurrency market. The easing of US monetary policy, stricter requirements for stablecoins and exchanges in Europe and Asia, and experimental regimes in China and Hong Kong will remain key factors for price dynamics and investor sentiment in the coming months.
The rental market in Prague in 2025 remains one of the most dynamic in Central Europe. Demand exceeds supply, especially in the central districts of the city — Prague 1, Prague 2, and Prague 3, which traditionally attract both locals and foreigners, according to analysts at Relocation.com.ua, citing data from Global Property Guide and the Czech Statistical Office.
The average asking rent for a one-bedroom apartment in Prague in 2025 is around CZK 26,500 (≈ €1,050) per month. This is 8-10% higher than in 2024, when the average was around CZK 24,000.
Two-bedroom apartments in central areas (Prague 1, 2, 5) cost between €1,300 and €1,900 per month, while in residential areas such as Prague 9 or Prague 10, rents for similar accommodation range from €850 to €1,200.
According to the Sreality.cz portal, during the first half of 2025, the average rent in the capital rose by 5.7%, and compared to 2023, by more than 15%. The main drivers are the rising cost of new construction, high mortgage interest rates (which keep people in the rental market), and a steady influx of foreign workers.
The share of renters in Prague continues to grow and already exceeds 25% of households, which is the highest figure in the Czech Republic. Young professionals under the age of 35 account for more than half of all renters, while among foreigners, the most active groups are Ukrainians, Slovaks, Indians, and EU citizens.
The profitability of renting in Prague remains attractive to investors: according to Global Property Guide estimates, the average gross yield ranges from 4.8% to 5.4%, depending on the area and type of property.
Among the trends for 2025 is increased discussion around the regulation of short-term rentals (Airbnb): the municipality is considering options for limiting the duration of apartment rentals in tourist areas in order to balance the interests of local residents and the tourism business.
Experts predict that the housing shortage and growth in rental demand will keep the market buoyant until at least mid-2026. New construction in the center remains limited, with most growth in supply expected on the outskirts of the city, particularly in Prague 9, 10, and 13.
Source: http://relocation.com.ua/prague-rental-housing-market-analysis-by-relocation/
The cryptocurrency market showed signs of cautious recovery between October 20 and 25, 2025, after sharp fluctuations at the beginning of the month. According to CoinDesk, Binance, and CryptoRank, against the backdrop of macroeconomic stabilization, leading crypto assets showed moderate growth but remained highly volatile.
Bitcoin strengthened by about 2-3% over the week, rising above the $110,000 mark again. Experts note that maintaining this level could be a key signal of a recovery in investor confidence. Ethereum also rose 2-3% and consolidated above $4,000, reflecting continued interest in smart contract ecosystems and decentralized applications.
Among altcoins, XRP stood out, gaining about 5% and becoming one of the growth leaders in the top ten of the market. Solana and Binance Coin (BNB) showed minimal changes — from zero to one percent — remaining stable but without noticeable momentum. Cardano rose about 2%, continuing to develop its own ecosystem. Dogecoin gained about 3% amid renewed interest from retail investors.
Chainlink and the HYPE token grew the most during the week, by 10–14% and 30–40%, respectively. Analysts attribute this to increased interest in infrastructure projects and niche solutions that can offer new technologies for interaction in the blockchain environment. Avalanche ended the week with a slight increase of about 2%.
According to experts, the main factor of the week was the gradual return of liquidity to the market. Despite the high outflow of funds from cryptocurrency ETFs, investors began to cautiously build up positions in large assets. Increased expectations of a softening of US Federal Reserve policy and a slowdown in the growth of government bond yields provided additional stimulus for the market.
At the same time, the regulatory environment remains tense: the Financial Stability Board (FSB) reiterated the need to unify the rules for trading cryptocurrencies in different countries. This caused a temporary decline in interest in risky assets, but by the end of the week, the market had partially recovered.
Among the key trends, analysts note the continued dominance of Bitcoin, which accounts for more than 58% of market capitalization. At the same time, a moderate increase in interest in certain altcoins may signal the beginning of a phase of capital rotation and a gradual shift in focus towards technology projects.
Overall, the week ended on a positive note for the market, with the total capitalization of cryptocurrencies remaining close to $3.8 trillion. Experts warn that new correction waves are possible amid continuing uncertainty and weak liquidity, but the fundamentals of market leaders remain stable.
Source: https://www.fixygen.ua/news/20251026/analysis-of-best-cryptocurrencies-from-fixygen.html
The construction market in Ukraine in the first half of 2025 showed mixed dynamics: on the one hand, there was noticeable growth in residential construction and activity in the vast majority of projects, and on the other hand, there was a slowdown in engineering infrastructure and persistent problems with demand. Below are the main findings and forecasts from the Experts Club analytical center.
According to the State Statistics Service, the volume of construction work performed in Ukraine in January-June 2025 reached ≈92.998 billion UAH, which is 8.15% more than in the same period of 2024. However, different sectors show different dynamics.
For example, the area of new construction of apartment buildings increased by ~45–46% compared to the first half of 2024, to ≈2.86–2.97 million square meters. At the same time, the volume of work on engineering infrastructure (roads, communications, etc.) in January-May 2025 decreased by ≈17.8% compared to the same period last year. At the same time, work on non-residential buildings increased by ~29.5%.
Experts also point to many problems in the industry, the most important of which are:
1) Demand for primary housing lags significantly behind supply: many new properties are being built, but buyer activity is not keeping pace with the growth in supply.
2) Inflation (general and construction prices) and rising material costs are affecting construction costs and completion times.
3) The labor shortage is growing month by month, which could have a significant impact on the industry as a whole.
Forecasts for the second half of 2025 and the end of the year
Annual growth in the construction industry (including all segments: housing, infrastructure, commercial construction) is expected to be ≈16% in nominal terms, mainly due to the low base effect and active participation of international aid and state funding.
Private developers are likely to continue expanding their housing supply, especially in large cities and regions with high demand (Kyiv, Lviv, Ivano-Frankivsk, etc.).
The infrastructure segment may remain weak unless government orders and investments, including international ones, are accelerated.
The building repair and renovation sector may receive an additional boost from reconstruction and restoration programs following destruction and wear and tear.
The Ukrainian construction market in the first half of 2025 is showing some signs of recovery, especially in the residential segment: the volume of work has increased, the construction of apartment buildings has increased, and business confidence has improved. However, the sustainability of growth is still limited: engineering infrastructure is the weakest link, and there are risks of declining profitability and slowdown if issues with material prices, staffing, and the legislative and regulatory environment are not resolved.
