Businesses have lowered their long-term expectations but see short-term growth
5 May 18:02
The Institute for Economic Research and Policy Consulting has released the results of the 47th wave of its monthly business survey, “Ukrainian Business During the War,” for March 2026, according to "Komersant Ukrainian".
The survey was conducted from March 18 to 31 among 472 businesses in 21 regions of Ukraine. Respondents assessed the current state of business, compared indicators with February 2026, and provided forecasts for the coming months and the long-term outlook.
According to the survey, the overall economic situation remains mixed: despite an improvement in short-term expectations, businesses are increasingly pessimistic about the long-term outlook.
Key trends include:
- short-term business performance indicators have shown growth for the third consecutive month;
- at the same time, medium-term uncertainty has risen again following a previous decline;
- long-term business expectations are gradually deteriorating;
- the pace of economic recovery has remained stable for the third consecutive month.
Surveyed businesses also forecast an acceleration in inflation over the next 3–4 months.
Labor shortages, security concerns, and rising prices remain among the main obstacles to business development. Power outages have dropped to fourth place among risks, indicating a partial stabilization of the power grid.
Businesses cite economic uncertainty, risks to personnel and assets, and the high cost of credit as the main barriers to investment.
The survey was conducted by the Institute for Economic Research and Policy Consulting as part of the project “Ukraine’s Integration into the EU: A Dialogue Based on Facts” with the support of the International Renaissance Foundation.
