The Institute for Economic Research and Policy Consulting (IER) has released the 38-th monthly enterprise survey “Ukrainian business in wartime” for June 2025.
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 38-th wave lasted from June 19 -30, 2025.
The enterprise managers compared the work results in June 2025with May, assessed the indicators at the time of the survey (June 2025), 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.
The study was conducted by the Institute for Economic Research and Policy Consulting (IER).
Main results of the 38-th monthly enterprise survey:
- In June 2025, despite stable positive business expectations, uncertainty began to increase.
- The main barriers are labor shortages, insecurity, and inflation. Long-term business expectations remained unchanged, while long-term uncertainty increased significantly.
- In the six months, uncertainty also increased, while expectations remain optimistic, but without significant changes.
- The year-on-year recovery rate deteriorated slightly. Enterprise production indicators improved after the deterioration last month, while expectations have not changed significantly.
- The main obstacles to business remain labor shortages, security, and rising prices, although with changes in percentage distribution.
