The study analyses the dynamics and the structure of Ukraine’s public finances. It assesses the medium-term impact of fiscal austerity 2014-2016, examines fiscal sustainability and estimates further fiscal adjustment efforts. It evaluates the economic and social implications of current fiscal...

The Russian invasion of Ukraine has triggered a humanitarian, economic, financial and political crisis that will reverberate across Europe. In this Policy Note we analyse the short- and medium-term implications of the conflict. We find that the most severe economic and financial impact will be...

It remains unclear whether or not Russia will actually invade Ukraine, and if it does so, what form this invasion will take. In this note, we outline two broad scenarios: targeted strikes by Russia in Ukraine accompanied by further non-military destabilisation efforts, or a full invasion, and we...

Ukraine is a country split between East and West in political as well as economic terms. Unless these divisions are overcome - including some normalisation of relations with Russia - it will be difficult to achieve any lasting improvement of an economy burdened by structural weaknesses,...

Russia's invasion of Ukraine has caused human suffering, the destruction of infrastructure and environmental damage on a huge scale. The Ukrainian government has already started to prepare for reconstruction, and presented its National Recovery Plan in July 2022. The plan has many strengths,...