Invitation

Invitation Letter for the Diplomatic briefing on the economic situation in Ukraine,

January 12, 2025

Dear Colleagues,

Happy New Year! We extend our best wishes for peace, good health, and continued

cooperation.

The Institute for Economic Research and Policy Consulting is pleased to invite you to our regular

monthly "Diplomatic Briefing," where IER experts share their insights on the current economic situation

in Ukraine and present the latest results of our business tendency survey.

The upcoming Diplomatic Briefing, focused on “Ukraine’s economic situation and challenges in

December 2025”, will take place online via Zoom on January 12, 2025, Monday, from 16:00 to

17:00 Kyiv time (9:00-10:00 EST / 15:00-16:00 CEST).

In December, russian attacks on Ukraine’s critical infrastructure intensified. Energy, railway and

seaport infrastructure suffered severe damage. Ukrainian businesses and the population faced

electricity outages. This negatively affected economic development in December. At the same time,

fiscal expenditures traditionally surged in December the financing of previously delayed expenditures.

Higher expenditures were primarily financed by international assistance. According to the preliminary

figures, in-kind military assistance also increased.

Finally, there is more clarity on the external financing of Ukraine in 2026. The EU in December adopted

a political decision to borrow up to EUR 90 bn in 2026-2027 on capital markets to assist Ukraine: this

concerns military and financial aid. Ukraine will urgently need this money in the end of March 2026

under the assumption that in January and February it will receive the ERA contributions that remained

outstanding from 2025.

Overall, business remains rather optimistic, though uncertainty is high. During the Diplomatic Briefing

we will discuss key economic parameters and business tendencies of December in greater detail.

Speakers:

Oleksandra Betliy, macroeconomic, public finance, social and healthcare expert, IER Leading

Research Fellow;

Vitaliy Kravchuk, macroeconomic, monetary policy and financial market expert, IER Leading

Research Fellow;

Oksana Kuziakiv, IER Chief Executive, Head of the Centre for Contemporary Society studies.

English is a working language of the meeting.

We sincerely hope that you can honour us with your presence.

Please, register for the participation in the Briefings via https://forms.office.com/e/tRFQDJVdyp

Diplomatic Briefings represent an exclusive initiative by the IER, thoughtfully tailored to cater to the

needs of diplomatic institutions, government entities, and central banks of Ukraine’s international

partners. We kindly request your discretion in refraining from sharing this invitation with individuals

outside of your respective organizations.

Should you wish to extend this invitation to additional colleagues who would benefit from this

discussion, we would appreciate if you would be so kind to provide us with their contact information.

The Institute for Economic Research and Policy Consulting (IER) is a well-known Ukrainian

independent think tank established in 1999, focusing on economic research and policy consulting. The

IER is a top Ukrainian think tank with internationally recognized expertise almost 20 years of experience

in implementing projects on Ukraine's economic development funded by international donor

organizations, i.e. SIDA, USAID, UNDP, World Bank Group and others. In 2017 Global Go To Think

Tank Index Report the IER is one of the 140 Best Independent Think Tanks out of 6,500 surveyed, it

is 49th in “Best Advocacy Campaign” category, 69th as best International Economics Think Tank and

86th best Think Tank in Central and Eastern Europe. The IER has successfully implemented multiple

international donors projects related to the field of reform implementation in Ukraine. The IER

successfully combines professional analysis with active involvement in public dialogue and advocacy

and actively cooperates with Ukrainian national and regional authorities in issues related to strategic

planning and policy development as well as policy implementation. The IER has the capacity for grant

management and provides re-granting for capacity development to regional civil society organizations

and media. The IER financial standing has been secured through projects as well as private

contributions.

Kind regards,

Igor Burakovsky, IER Head of the Board

Invitation Letter for the Diplomatic briefing on the economic situation in Ukraine,

January 12, 2025

Dear Colleagues,

Happy New Year! We extend our best wishes for peace, good health, and continued

cooperation.

The Institute for Economic Research and Policy Consulting is pleased to invite you to our regular

monthly "Diplomatic Briefing," where IER experts share their insights on the current economic situation

in Ukraine and present the latest results of our business tendency survey.

The upcoming Diplomatic Briefing, focused on “Ukraine’s economic situation and challenges in

December 2025”, will take place online via Zoom on January 12, 2025, Monday, from 16:00 to

17:00 Kyiv time (9:00-10:00 EST / 15:00-16:00 CEST).

In December, russian attacks on Ukraine’s critical infrastructure intensified. Energy, railway and

seaport infrastructure suffered severe damage. Ukrainian businesses and the population faced

electricity outages. This negatively affected economic development in December. At the same time,

fiscal expenditures traditionally surged in December the financing of previously delayed expenditures.

Higher expenditures were primarily financed by international assistance. According to the preliminary

figures, in-kind military assistance also increased.

Finally, there is more clarity on the external financing of Ukraine in 2026. The EU in December adopted

a political decision to borrow up to EUR 90 bn in 2026-2027 on capital markets to assist Ukraine: this

concerns military and financial aid. Ukraine will urgently need this money in the end of March 2026

under the assumption that in January and February it will receive the ERA contributions that remained

outstanding from 2025.

Overall, business remains rather optimistic, though uncertainty is high. During the Diplomatic Briefing

we will discuss key economic parameters and business tendencies of December in greater detail.

Speakers:

Oleksandra Betliy, macroeconomic, public finance, social and healthcare expert, IER Leading

Research Fellow;

Vitaliy Kravchuk, macroeconomic, monetary policy and financial market expert, IER Leading

Research Fellow;

Oksana Kuziakiv, IER Chief Executive, Head of the Centre for Contemporary Society studies.

English is a working language of the meeting.

We sincerely hope that you can honour us with your presence.

Please, register for the participation in the Briefings via https://forms.office.com/e/tRFQDJVdyp

Diplomatic Briefings represent an exclusive initiative by the IER, thoughtfully tailored to cater to the

needs of diplomatic institutions, government entities, and central banks of Ukraine’s international

partners. We kindly request your discretion in refraining from sharing this invitation with individuals

outside of your respective organizations.

Should you wish to extend this invitation to additional colleagues who would benefit from this

discussion, we would appreciate if you would be so kind to provide us with their contact information.

The Institute for Economic Research and Policy Consulting (IER) is a well-known Ukrainian

independent think tank established in 1999, focusing on economic research and policy consulting. The

IER is a top Ukrainian think tank with internationally recognized expertise almost 20 years of experience

in implementing projects on Ukraine's economic development funded by international donor

organizations, i.e. SIDA, USAID, UNDP, World Bank Group and others. In 2017 Global Go To Think

Tank Index Report the IER is one of the 140 Best Independent Think Tanks out of 6,500 surveyed, it

is 49th in “Best Advocacy Campaign” category, 69th as best International Economics Think Tank and

86th best Think Tank in Central and Eastern Europe. The IER has successfully implemented multiple

international donors projects related to the field of reform implementation in Ukraine. The IER

successfully combines professional analysis with active involvement in public dialogue and advocacy

and actively cooperates with Ukrainian national and regional authorities in issues related to strategic

planning and policy development as well as policy implementation. The IER has the capacity for grant

management and provides re-granting for capacity development to regional civil society organizations

and media. The IER financial standing has been secured through projects as well as private

contributions.

Kind regards,

Igor Burakovsky, IER Head of the Board