Following the signing of a cooperation agreement between Ukraine and the US in the field of mineral resources, the world community’s attention has been focused on Ukraine’s potential for rare earth element (REE) extraction. These elements are critical for modern technologies, including the production of electric vehicles, wind turbines, and defense equipment. However, experts caution against excessive optimism about the rapid realization of this potential.
Volodymyr Khaustov, scientific secretary of the State Institution “Institute of Economics and Forecasting of the National Academy of Sciences of Ukraine,” honored economist of Ukraine, and candidate of technical sciences, shared his vision of the prospects for REE mining in Ukraine.
“Ukraine does indeed have certain reserves of rare earth elements, but most of them were explored during the Soviet era, and this data needs to be updated. In addition, a significant portion of potential deposits are located in areas currently under Russian control or near the combat zone,” Khaustov noted.
The expert also highlighted the technological and infrastructural challenges associated with the extraction and processing of REEs.
“Even if we can gain access to these deposits, the question of their economic viability arises. REE extraction is a complex and expensive process that requires modern technology and significant investment. At present, Ukraine does not have the necessary infrastructure for the full cycle of extraction and processing of these elements,” he explained.
It should be noted that, according to research, only one of the six known REE deposits in Ukraine — Novopoltavskoye in the Zaporizhzhia region — has confirmed reserves and is open for licensing. However, even this deposit requires an investment of about $300 million for full development.
In addition, the global REE processing market is currently dominated by China, which controls about 90% of the world’s capacity for the purification and processing of these elements. This creates additional challenges for countries seeking to develop their own REE production.
“For Ukraine to become competitive in the global REE market, it is necessary not only to develop deposits, but also to create a complete value chain — from extraction to processing and manufacturing of end products. This requires strategic planning, significant investment, and time,” Khaustov emphasized.
In conclusion, although Ukraine has potential in the field of rare earth element extraction, realizing this potential requires a comprehensive approach, significant resources, and time. Experts call for cautious optimism and strategic planning to achieve success in this industry.
For more details on the prospects for rare earth extraction in Ukraine, watch the video: https://www.youtube.com/watch?v=UHeBfpywpQc&t
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ECONOMY, EXPERT, EXPERTS CLUB, INDUSTRY, rare earth elements, rare earths, Volodymyr Khaustov
This article presents key macroeconomic indicators for Ukraine and the global economy as of February 1, 2025. The analysis is based on current data from the State Statistics Service of Ukraine, the National Bank of Ukraine, the International Monetary Fund, the World Bank, and the UN. Marketing and Development Director at Interfax-Ukraine, Maksim Urakhin, PhD in Economics and founder of the Experts Club information and analytical center, presented an overview of current macroeconomic trends.
Macroeconomic indicators of Ukraine
In 2024, Ukraine’s economy showed signs of recovery despite the ongoing war and unstable geopolitical situation. According to updated data from the State Statistics Service, Ukraine’s real GDP grew by 3.3% in 2024, while nominal GDP amounted to approximately UAH 8.3 trillion. The deflator index was 11.6%.
“GDP growth demonstrates the resilience of the Ukrainian economy. Sectors focused on exports, domestic consumption, and infrastructure restoration have become the drivers of growth,” comments Maxim Urakin.
As of January 2025, annual inflation accelerated to 12.9%. Consumer prices rose by 1.2% in January compared to December, reflecting seasonal increases and currency stability.
According to the State Statistics Service, at the end of 2024, exports of goods amounted to $43.8 billion (+13.4%), imports to $67.4 billion (+5.7%), and the negative foreign trade balance to $23.6 billion.
“Despite high imports, primarily of energy and equipment, export activity is growing. Ukraine is strengthening its position in the agricultural and metallurgical markets,” says Maksim Urakyn.
As of February 1, 2025, according to the Ministry of Finance, Ukraine’s state and state-guaranteed debt amounted to $146.7 billion, including $100.1 billion in external debt. According to the National Bank of Ukraine, international reserves reached $45.3 billion, increasing by $400 million in January thanks to inflows from the EU and the IMF.
“The record level of reserves strengthens the stability of the hryvnia and allows the NBU to control currency fluctuations,” the economist emphasizes.
Global economy
According to the IMF’s January update, global economic growth in 2024 was 3.1%, with a forecast of 3.2% for 2025. Developing countries remain the main drivers, despite global instability.
According to the Bureau of Economic Analysis, the US economy grew by 2.5% in 2024. In January 2025, inflation stood at 3.1% year-on-year, with the Fed keeping its rate at 5.25-5.5%.
According to revised Eurostat data, the eurozone’s GDP grew by 0.4% in 2024, while inflation stood at 2.8% in January 2025. Germany, the EU’s largest economy, contracted by 0.1%, while Spain and Portugal made positive contributions to overall growth.
“Geopolitics, high borrowing costs, and weak demand in the G7 countries continue to hold back the recovery. Strong consumer demand is supporting the US economy. However, expensive credit is holding back investment activity, especially in real estate. The Chinese economy needs new stimulus, including tax reforms and support for small businesses, to offset the decline in investment in the construction sector,” Urakin explains.
The Indian economy continues to grow steadily: 8% in 2024, according to preliminary data from the Indian Ministry of Finance. The country is strengthening its position in global supply chains and increasing domestic production.
According to official statistics, China’s GDP grew by 5% in 2024. However, growth in the real estate sector remains weak and domestic demand is limited, which is holding back expansion potential.
Conclusion
The macroeconomic picture at the beginning of 2025 reflects a difficult but stable situation both in Ukraine and globally. Domestic GDP growth, slowing inflation, and strengthening reserves are positive signals for Ukraine. The global economy, in turn, is showing cautious growth amid continuing challenges.
“The key priorities for Ukraine remain ensuring macroeconomic stability, growing high value-added exports, accelerating digital transformation, and implementing structural reforms. This will enable the country to strengthen its position in the international economy as early as 2025,” concludes Maksim Urakin.
Head of the Economic Monitoring project, Candidate of Economic Sciences Maksim Urakin.
A more detailed analysis of Ukraine’s economic indicators is available in the monthly information and analytical products of the Interfax-Ukraine agency, Economic Monitoring.
Source: https://interfax.com.ua/news/projects/1072123.html
ECONOMY, EXPERTS CLUB, GDP, GEOPOLITICS, MACROECONOMICS, URAKIN
Iran has become the country with the highest level of negative attitudes among Ukrainians, according to a sociological survey conducted by Active Group and the Experts Club analytical center in April 2025.
According to the results, 60.9% of respondents rated Iran negatively (32.9% — mostly negative, 28.0% — completely negative). At the same time, only 5.0% of respondents expressed a positive attitude (2.8% — mostly positive, 2.2% — completely positive). Another 27.9% indicated a neutral attitude, and 6.2% abstained from answering.
“The high level of negativity towards Iran is explained by its foreign policy and alliance with Russia. These results reflect the geopolitical reality,” said Oleksandr Pozniy, co-founder of Active Group.
The presentation of the study is available at the link.
ACTIVE GROUP, DIPLOMACY, EXPERTS CLUB, Pozniy, SOCIOLOGY, URAKIN
According to the results of a survey conducted by Active Group in collaboration with the information and analytical center Experts Club, the vast majority of Ukrainians do not have a formed opinion about Guyana — 71.8% chose the neutral option.
A positive attitude was expressed by 8.8% of respondents: 6.2% said “mostly positive” and 2.6% said “completely positive.” In contrast, only 3.9% expressed a negative attitude (of which 3.2% said “mostly negative” and 0.7% said “completely negative”). At the same time, 15.5% of respondents were unable to answer this question at all.
“Such a high percentage of neutrality and ‘difficult to say’ responses indicates that Ukrainians are very poorly informed about Guyana. This country is almost absent from the Ukrainian information field and is therefore perceived without strong emotions,” comments Oleksandr Pozniy, co-founder of Active Group.
Ukrainians’ attitude toward Guyana remains largely neutral due to the country’s lack of media presence. This is a typical example of a “blank spot” on the geopolitical map in the mass consciousness.
The presentation of the study is available at the link.
ACTIVE GROUP, DIPLOMACY, EXPERTS CLUB, Pozniy, SOCIOLOGY, URAKIN
The results of a sociological survey conducted by Active Group in collaboration with Experts Club show that Ukrainians’ attitude toward Venezuela is generally more negative than positive.
19.6% of respondents rated their attitude as negative, of which 15.1% said it was “mostly negative” and 4.5% said it was “completely negative.” At the same time, 17.6% of respondents expressed a positive attitude, including 13.1% who said it was “mostly positive” and 4.5% who said it was “completely positive.” The largest share, 55.7%, took a neutral position, while another 7.1% abstained from answering.
“Negative associations with Venezuela are mainly related to the economic and political crisis in the country. It often appears in the news as an example of a country where the socio-economic situation has deteriorated due to populist decisions. This creates a wary attitude among Ukrainians,” says Maksim Urakin, PhD in Economics and founder of the Experts Club information and analytical center.
Ukrainians perceive Venezuela mainly through the prism of problems that have become known from international news. Although a significant proportion of respondents take a neutral position, the negative image prevails over the positive.
ACTIVE GROUP, DIPLOMACY, EXPERTS CLUB, Pozniy, SOCIOLOGY, URAKIN
According to the results of a joint survey conducted by Active Group and the Experts Club analytical center, most Ukrainians have a neutral or positive attitude towards Thailand.
Thus, 54.8% of respondents rated their attitude as neutral, while 36.4% responded positively (of which 28.4% said “mostly positive” and 8.0% said “completely positive”). Only 3.2% of respondents expressed a negative attitude, while 5.6% were unable to answer the question.
“Thailand has long been one of the favorite destinations for Ukrainian tourists, especially in winter. Tourism shapes a positive image of the country in the Ukrainian public consciousness,” comments Maxim Urakin, PhD in Economics and founder of the Experts Club information and analytical center.
Overall, more than a third of Ukrainians have a favorable attitude toward Thailand, and more than half are neutral. These data indicate a positive tourist image of the country among Ukrainians, which creates potential for further development of cultural and economic ties.
The presentation of the study is available at the link.
ACTIVE GROUP, DIPLOMACY, EXPERTS CLUB, Pozniy, SOCIOLOGY, URAKIN
