Oleksandr Kravchenko
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Ukraine's Economy Ministry to lower 2026 GDP growth forecast below 1.6%
Ukraine's Economy Ministry is preparing to revise its 2026 GDP growth forecast downward from the June estimate of 1.6%. Minister Oleksandr Kravchenko cited port blockages, intensified Russian shelling, and the postponement of some capital spending as the reasons. The final figure has not yet been determined.
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Ukraine tightens worker-reservation rules and prepares mechanism for full reservations
Ukraine’s government has finalized changes that remove unconditional 100% worker reservations for critical enterprises while planning a separate mechanism allowing full reservations when firms regularly and voluntarily enlist staff for military service. The government says the changes aim to curb abuses, clarify which enterprises are genuinely critical and create conditions for military rotations, not trigger an immediate mobilization surge.
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Kyiv expands diesel backup power for water utility amid grid disruptions
Kyiv is facing intermittent water supply because damage to the city's power grid is disrupting electricity-dependent pumping and treatment infrastructure. Three dedicated diesel power stations with a combined capacity of 16 MW have been built, but the utility needs more than 50 MW to protect key facilities.
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Ukraine PM puts 2025 business damage from Russian strikes at $7.7 billion
Prime Minister Serhiy Koretsky said Russian attacks caused $7.7 billion in direct damages to Ukrainian businesses this year and destroyed or damaged more than 1 million square meters of warehouse, production, and logistics space. In an interview with BBC Ukraine, he said the economy is still functioning and outlined government relief measures, including transferring state premises to firms and adjusting the subsidized "Affordable Loans 5-7-9%" program. He also said the state has stepped in to partially compensate losses that vessels entering Ukrainian ports cannot insure internationally.
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Ukraine and Germany advance war risk insurance and 'Industrial Ramstein' cooperation in Kyiv talks
Ukrainian Economy Minister Oleksandr Kravchenko met German Economy Minister Katherina Reiche in Kyiv on 4 October 2026. The two ministers focused on an updated war risk insurance mechanism with payouts of up to $10 million and the joint 'Industrial Ramstein' industrial initiative, for which Germany is providing €30 million in start-up financing. Separately, Reiche said she pressed President Volodymyr Zelensky on anti-corruption reforms and the need for measurable results.
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Ukraine completes opening of all 43 claim categories at international damage register
The International Register of Damage Caused by Russia's Aggression Against Ukraine (RD4U) completed the phased opening of all 43 claim categories on 30 September. The categories cover damages to individuals, legal entities, and the State of Ukraine. The Register has received about 195,000 claims, of which more than 65,000 have been entered into the Register.
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Ukraine plans $2–3 billion war-risk insurance fund for businesses, partly funded by VAT hike
Ukraine's Minister of Economy Oleksandr Kravchenko announced plans for a $2–3 billion insurance fund to compensate businesses for losses from Russian attacks, with payouts targeted to begin on January 1, 2027. The government proposes funding part of the fund by raising VAT from 20% to 21%, a politically sensitive move that has not yet been finalized.