Economists say it will take many years for Ukraine’s economy to return to prewar levels, and forecasts in a time of fierce fighting are bound to be uncertain.
Still, local analysts and businesspeople say, a sense of resilience and relative stability has taken hold after nearly 20 months of war, improving confidence among consumers and investors.
“Ukraine’s economy is adapting to the war,” said Olena Bilan, chief economist at the Kyiv-based investment bank Dragon Capital.
“Today, most Ukrainians understand that the war may be prolonged, and they need to continue living in these new circumstances,” said Andriy Cherukha, the founder of Etnodim, which produces vyshyvankas, the traditional embroidered Ukrainian shirts.
He said sales in his shop had tripled this year compared with last, driven in part by a rise in patriotism.
Persons:
”, Olena Bilan, Andriy Cherukha
Organizations:
Dragon, World Bank
Locations:
Kyiv, Ukraine, Dnipro