A group of 50 young athletes from the Sumy and Kherson regions of Ukraine has arrived in Serbia. The delegation comprises pupils from the ‘Barsa’ Regional Sports Lyceum and the Novovorontsov Children’s and Youth Sports School, according to the Telegram channel ‘Serbian Economist’.
During their stay in Serbia, the children will take part in training sessions, sports competitions and joint activities with their Serbian peers.
The organisation of the camp was made possible thanks to the support of the Government of Serbia, the Ministry of Sports and the Football Association of Serbia. Similar programmes have been held for several years and are aimed at the rehabilitation and recreation of Ukrainian children affected by the consequences of the war.
In recent months, humanitarian and public cooperation between Serbia and Ukraine has also noticeably intensified, facilitated by the work of the new Ukrainian ambassador in Belgrade.
Norway has announced the allocation of 3 billion kroner (268 million euros) to strengthen Ukraine’s air defense, specifically as part of the PURL program and to purchase Patriot missiles from countries that already have them, the Norwegian government’s press service reported.
“Norway is now providing an additional 3 billion Norwegian kroner to strengthen Ukraine’s air defense systems,” the government press service stated on its website.
It is reported that Norway, together with Denmark, Germany, and Canada, will order new Patriot air defense missiles directly from the manufacturer in the U.S. as part of the PURL program.
“Given the long delivery times for some of these missiles, Norway also plans to purchase Patriot missiles from countries that already have them in order to deliver them to Ukraine as quickly as possible,” the Norwegian government emphasized.
Norway is also allocating funds to join Ukraine’s initiative to jointly develop anti-ballistic systems with European partners. “Ukraine has invited European partners to participate in the development of a specialized missile defense system. This could also be significant for the defense of Norway and other NATO member states. Norway is allocating funding to be able to contribute to this initiative,” the statement said.
“In the future, ballistic missiles may also pose a serious threat to Norway and its allies. Therefore, the Ukrainian initiative is of interest from the perspective of strengthening Norway’s defense capabilities,” said Defense Minister Tore O. Sandvik.
During the NATO summit in Ankara, Ukrainian President Volodymyr Zelenskyy stated that a key topic of discussion with partners would be the supply of interceptor missiles for the Patriot air defense system, which are critical to Ukraine’s ability to shoot down Russian ballistic missiles—and noted that these missiles are not exclusive to the United States.
As previously reported, the Netherlands, Germany, Finland, Sweden, Lithuania, Estonia, Latvia, Denmark, and Poland have appealed to the European Commission to grant authorization as soon as possible for the purchase of missiles for U.S.-made air defense systems as part of the 90 billion euro “defense” component that the EU is providing to Ukraine in 2026–27.
The International Monetary Fund forecasts that Ukraine will be one of Europe’s fastest-growing economies in 2027–2031, according to a Euronews analysis based on data from the IMF’s World Economic Outlook. The primary source of the data is the IMF’s World Economic Outlook database, which publishes country-specific forecasts, including real GDP growth figures through 2031.
According to Euronews’ calculations, the IMF expects Ukraine’s economy to grow at an average annual rate of 3.8% from 2027 to 2031. The strongest year in the forecast period is expected to be 2028, when growth could reach about 4.2%. Based on this indicator, Ukraine ranks among the top five European economies expected to grow more than twice as fast as the eurozone.
In the list of Europe’s fastest-growing economies, Ukraine is ranked after Malta and Kosovo. Further down the list are Serbia, with an average annual growth rate of 3.52%, and Moldova, with a forecast of about 3.5%. By comparison, according to the IMF, the eurozone economy is projected to grow by an average of 1.2% per year from 2027 to 2031, while the EU economy as a whole is expected to grow by approximately 1.4%.
The key factor driving Ukraine’s growth is cited as the post-war recovery of its economy and infrastructure. Euronews notes that the IMF’s forecast is effectively a recovery scenario: it assumes a gradual de-escalation of the war and the launch of large-scale investments in reconstruction. According to the report, the estimated cost of reconstruction is approaching $600 billion.
At the same time, the outlook for Ukraine remains one of the most uncertain in Europe. In its June 12, 2026, report on Ukraine, the IMF explicitly noted that the country’s prospects remain “extremely uncertain,” as the war continues to inflict severe damage on the population and the economy. The IMF also indicated that Ukraine’s GDP growth in 2026 could slow to 1.0–1.6% due to the consequences of Russia’s ongoing war against Ukraine and external shocks.
It is precisely this difference between the short-term and medium-term outlooks that is the key element of the forecast. In 2026, the Ukrainian economy remains under pressure from military risks, infrastructure damage, fiscal expenditures, labor shortages, and high dependence on external financing. However, in 2027–2031, provided the security situation improves, recovery could become the main source of growth.
For Ukraine, this forecast implies that the country could become one of Europe’s most dynamic economies—not through typical cyclical growth, but through the effects of post-war reconstruction, investments in infrastructure, construction, energy, logistics, industry, and integration with the EU market.
However, this scenario depends directly on security, international aid, the sustainability of public finances, the pace of reforms, and the ability to attract private capital.
Without a reduction in military risks, growth could turn out to be significantly lower: Euronews notes that under the IMF’s adverse scenario—assuming intense hostilities continue—Ukraine’s growth in 2027 could be only about 1%.
Thus, in the IMF’s projections, Ukraine appears to be one of Europe’s most promising economies for the 2027–2031 period, but this potential remains closely tied to the end of the war, the scale of reconstruction, and the country’s ability to translate international support into long-term economic growth.
As of July 7, Ukrainian farmers had harvested 1.022 million metric tons of early-season grains and legumes from the new crop, according to the press service of the Ministry of Economy, Environment, and Agriculture.
“This year, due to weather conditions, the harvest began somewhat later. But farmers are working as hard as they can, and we’ve already reached the first million metric tons of grain—that’s a good result for this time of year. It was made possible by the coordinated efforts of producers and the efficient organization of fieldwork, even amid security and logistical challenges,” the press service quoted Deputy Minister Taras Vysotsky as saying.
According to the ministry, the harvest of early grain and legume crops is underway in 15 regions. Grain has already been threshed on an area of 251,400 hectares, which accounts for 3% of the projected area, with an average yield of 40.7 centners per hectare.
Farmers have already harvested 719.4 thousand metric tons of barley, 264.6 thousand metric tons of wheat, and 35.1 thousand metric tons of peas.
In the Kherson and Ivano-Frankivsk regions, the rapeseed harvest has begun, with 2.68 thousand metric tons harvested so far.
The largest volumes of grain from the new harvest were harvested by farmers in the Odesa (389 thousand metric tons) and Mykolaiv (347.2 thousand metric tons) regions.
According to the Ministry of Economy, Ukrainian farmers planted over 20 million hectares with winter and spring grains and oilseeds in 2026. Specifically, 5.88 million hectares were planted with spring grains and legumes, and 7 million hectares with industrial crops.
Norway is now providing an additional 3 billion Norwegian kroner to strengthen Ukraine’s air defense systems, according to the Norwegian government.
“Ukraine has been successful in intercepting most drones and cruise missiles, but it needs to strengthen its defenses against ballistic missiles. This is one of Ukraine’s most urgent priorities. That is why Norway is now allocating 3 billion Norwegian kroner for air defense,” said Prime Minister Jonas Gar Støre.
On Tuesday, the prime minister met with Ukrainian President Volodymyr Zelenskyy at the NATO summit in Ankara, Turkey.
“Russia is sending hundreds of drones and missiles into Ukraine day and night. The Patriot air defense system is highly effective and can counter a wide range of threats, including ballistic missiles,” said Defense Minister Tore O. Sandvik.
Together with Denmark, Germany, and Canada, Norway will order new Patriot air defense missiles directly from the manufacturer in the United States. Norway will continue to support the U.S.-led PURL program. PURL is a NATO program for coordinating the funding and donation of advanced U.S. military equipment to Ukraine, including air defense systems. Given the long lead times for some of these missiles, Norway also plans to procure Patriot missiles from countries that already possess them to facilitate rapid donations to Ukraine.
According to the Norwegian government, Ukraine has asked its European partners to participate in the development of a specialized missile defense system. This could also be significant for the defense of Norway and other Alliance member countries. Norway is allocating funding to be able to contribute to this initiative.
“In the future, ballistic missiles could also pose a serious threat to Norway and its allies. Therefore, the Ukrainian initiative is of interest in terms of strengthening Norway’s defense capabilities,” Sandvik said.
The government noted that between 2023 and 2025, Norway provided Ukraine with air defense support totaling 30 billion Norwegian kroner. Norway is also providing significant funding to strengthen Ukraine’s air defense in 2026.
In the “Medium- and Long-Term Market” section of the UEB, trading continued for July, August, and November 2026. In total, eight companies placed bids to buy or sell natural gas: Ukrnafta, GPK Naftogaz Trading, MTM Concern, the Ukrainian Gas Transmission System Operator, Ukrzaliznytsia, and others. In total, 11,530 thousand cubic meters of natural gas—July 2026 volumes in the GTS and UGS facilities—were sold in this section.
On the UEB’s short-term natural gas market, participants submitted bids on the intraday market and the “day-ahead” market. A total of 86 trades were concluded, with a combined volume of 1,622 thousand cubic meters.
Last week, the European market once again began to price in a risk premium, though without returning to June’s peaks. The M+1 gas contract briefly reached its highest level since the signing of the memorandum of understanding between the U.S. and Iran, with the Winter 26 and Summer 27 contracts following a similar trajectory. Maritime traffic through the Strait of Hormuz, while having improved somewhat, remains significantly below pre-war levels: in the six months leading up to the war, an average of just under 90 tankers passed through the strait each month. Following last weekend’s strikes, LNG transit was close to zero. Gas storage in Europe remains one of the most closely monitored fundamental factors. As of July 2, the current storage fill rate stood at 49.2%, compared to a five-year average of approximately 62%.
Natural gas imports from Europe ranged from 0.8 to 1.6 million cubic meters per day.
