The Institute for Economic Research and Policy Consulting (IER) has released the 32-th monthly enterprise survey “Ukrainian business in wartime” for December 2024.
The goal of the project is to quickly collect information on the current state of the economy at the enterprise level.
The field stage of the 32-th wave lasted from December 16 – 31, 2024. The enterprise managers compared the work results in December 2024 with November, assessed the indicators at the time of the survey (December 2024), and gave forecasts for the next two, three, or six months, depending on the question. In certain issues (where indicated), the work results were compared with the pre-war period (before February 24, 2022).
This survey uses a panel sample that includes 500+ enterprises located in 21 of 27 regions of Ukraine, including Vinnytsya, Volyn, Dnipropetrovsk, Zhytomyr, Zakarpattya, Zaporizhzhia, Ivano-Frankivsk, Kyiv, Kirovohrad, Lviv, Odesa, Poltava, Rivne, Sumy, Ternopil, Kharkiv, Khmelnytskyy, Cherkasy, Chernivtsi and Chernihiv regions and the Kyiv city.
This publication was compiled with the support of the European Union and the International Renaissance Foundation within the framework «European Renaissance of Ukraine» project. Its content is the exclusive responsibility of the authors and does not necessarily reflect the views of the European Union and the International Renaissance Foundation.
Main results of the 32-th monthly enterprise survey:
- In December 2024, enterprises slightly improved their production indicators, while expectations remained positive and stable, which is a good sign at the end of the third year of the war.
- The medium- and long-term perspective forecasts also remained positive without significant changes.
- However, challenges such as “labor shortages” and “unsafe working conditions” remain major obstacles to business operations.
- “Interruptions with electricity” have increased its importance again and close the top three impediments.
- “Lack of personnel” remains in 1st place in the list of obstacles.
- Assessments of the Government’s economic policy remain mostly neutral. Business consider the state mostly a regulator.
- In November 2024, due to power outages, businesses lost 8% of their total working time.
