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This is an Open Access article, distributed under the terms 
of the Creative Commons Attribution CC BY 4.0

1 Kyiv National Economic University named after Vadym Hetman, Ukraine;
Koretsky Institute of State and Law of the National Academy of Sciences Ukraine, Ukraine (corresponding author)
E-mail: yanapavko@gmail.com
ORCID: https://orcid.org/0000-0003-2602-9592
2 Commercial Court of Ukraine, Ukraine
E-mail: LyskovMaksim@ukr.net
ORCID: https://orcid.org/0000-0002-2179-0836
3 E-mail: 6144033@gmail.com
ORCID: https://orcid.org/0000-0001-9309-0911

DOI: https://doi.org/10.30525/2256-0742/2025-11-5-156-167

POST-WAR ECONOMIC AND DEMOGRAPHIC RECOVERY  
OF UKRAINE IN THE CONTEXT OF EUROPEAN INTEGRATION: 

CURRENT TRENDS AND FUTURE PROSPECTS 
Yana Pavko1, Maksim Lyskov2, Kateryna Kropyvna3

Abstract. The Russian Federation's armed aggression has had a negative impact on the development of the 
Ukrainian economy. Today, the economy requires a comprehensive reboot and renewal, particularly given Ukraine's 
move towards EU membership. Post-war recovery of the Ukrainian economy requires a balanced strategy in 
line with EU principles and standards, as well as strong international financial support. The gradual integration 
of Ukraine into the EU is expected to generate new opportunities for the state and contribute to its economic 
growth. The subject of scientific research is the features and trends of Ukraine's post-war economic recovery in the 
context of European integration. The objective of the scientific research is to ascertain the present state and future 
prospects of Ukraine's post-war economic recovery in the context of EU integration. The article employs various 
general scientific methods, including analysis, synthesis, induction, deduction and systemic analysis. It is suggested 
that, to ensure the effective post-war recovery of Ukraine's economy, an appropriate strategy should be adopted 
in the form of a legally binding document. This document must consider all significant aspects of the country's 
economic development following the cessation of hostilities, with a view to accelerating its integration into the 
EU. The process of post-war economic recovery in Ukraine is a multifaceted and intricate undertaking. It should 
be focused on achieving three fundamental objectives: firstly, the comprehensive restructuring of the Ukrainian 
economy; secondly, the development of high-tech production; and thirdly, the stimulation of innovation. In the 
aftermath of the war with Russia, it is anticipated that Ukraine will transition to an industrial-innovative economic 
model. The implementation of its environmental component is of great importance for post-war economic recovery. 
The transition to a "green economy" is expected to ensure Ukraine's economic efficiency and competitiveness in 
European and global markets. It is anticipated that this initiative will facilitate the harmonious development of 
pivotal economic sectors, thereby enhancing the quality of life for the populace. The findings of scientific research 
provide a general indication of the manner in which Ukraine's post-war economic recovery should be conducted 
following the cessation of hostilities with Russia.

Keywords: European integration, "green economy", mechanisms of post-war economic recovery in Ukraine, post-
war economic recovery, structural transformation of the economy.

JEL Classification: F15, Q01, O53

1. Introduction
The full-scale invasion of Ukraine by the Russian 

Federation (RF) has had a considerable impact on the 
Ukrainian economy, as well as the global economy.  
The Ukraine situation is marked by a number of 
challenges that require urgent attention. The state 
of Ukraine's national economy has been adversely  

affected by a number of factors, including the 
unsuitability of approximately 20% of pre-war 
territory for commercial activities, the destruction of 
infrastructure and production facilities, the disruption  
of import and export chains, the departure of 
a significant number of Ukrainian citizens abroad due 
to a lack of opportunities to earn a living, the cessation 



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of project funding by foreign partners, and increased 
defence spending. At the present time, the financial 
losses resulting from Russia's armed aggression are 
estimated to exceed 800 billion USD.

 It is evident that economic sectors such as trade, 
industry, agriculture, energy and transport were the 
most adversely affected during the Russian-Ukrainian 
war. The findings of the Fourth Rapid Damage and 
Needs Assessment (RDNA4), which were published 
by the Government of Ukraine, the World Bank 
Group, the European Commission, and the United 
Nations, indicate that the total cost of rebuilding and  
restoring the country over the next decade will amount 
to 524 billion USD (506 billion EUR). A substantial 
proportion of these funds should be allocated to 
Ukraine's post-war economic recovery (Fourth Rapid 
Damage and Needs Assessment, 2024).

In particular, the Ukrainian economy requires 
comprehensive rebooting and renewal, especially in the 
context of Ukraine's move towards European Union 
(EU) membership. Ukraine's gradual integration into 
the EU is expected to generate new opportunities and 
contribute to its economic growth. The post-war recovery 
of the Ukrainian economy necessitates the formulation 
of a balanced strategy for its modernisation, in addition 
to robust international support. It is imperative that 
Ukraine's economic transformation be accompanied 
by a concomitant consideration of the environmental 
dimension. The transition to a "green economy" is key 
to achieving sustainable development and successfully 
rebuilding the state. Ukraine is therefore faced with the 
task of overcoming all economic challenges caused by 
the Russian-Ukrainian war, while ensuring its economic 
recovery in accordance with European principles and 
standards.

2. Materials and Methods
A number of works devoted to the topical issue 

of Ukraine's post-war economic recovery deserve 
attention. The scientific publications of R. Bedriy cover 
certain aspects of the organisational and legal support 
for the reconstruction and economic development of 
Ukrainian cities. L. Voytovych, M. Fedyk, I. Klopov and 
J. Ohrenych examined Ukraine's post-war economic 
recovery strategy within the framework of European 
integration. Meanwhile, A. Yanchuk argued for 
the importance of safeguarding Ukraine's national 
economic interests during the post-war recovery period, 
based on a long-term economic strategy. In particular, 
V. Heyets identified priorities in the programme 
for the post-war revival of Ukraine's economy. The 
works of scholars such as Y. Kostyk, H. Chekalovska, 
V. Shynkar, and L. Teplova are devoted to the study of 
the structural transformation of the economy in the 
post-war period. Nosyrev's (2023) primary focus is 
on the implementation of post-war industrial policy 

for the purpose of economic recovery. О. Borodina O.  
and V. Lyashenko conducted a study of the global 
experience in post-war economic recovery and the 
prospects for its adaptation in Ukraine. S. Bashlai and 
I. Yaremko conducted a detailed analysis of the pivotal 
elements underlying the digitalisation of Ukraine's 
economy, particularly in the context of its European 
integration processes. A. Glushchenko, L. Horbach, 
O. Ruban, Y. Humeniuk, N. Shishpanova and 
I. Kormishkina conducted a study on the particularities 
of Ukraine's transition to a 'green economy' in the 
context of post-war recovery. T. Pikuli's work focuses 
on the study of the mechanisms of Ukraine's post-
war reconstruction. V. Zalizniuk and G. Artamonova, 
meanwhile, identified the prospects for Ukraine's 
economic integration. O. Lytvyn, A. Onyshchenko and 
O. Ostapenko, in particular, focused their research on 
the economic challenges Ukraine faced during the war 
with Russia and how to overcome them.

The scientific research utilised a range of general 
scientific methods, including analysis, synthesis, 
induction, deduction, and systemic analysis. The 
utilisation of an analytical approach has facilitated the 
identification of the political and legal foundations of 
Ukraine's post-war economic recovery. The present 
study employed the synthesis method in scientific 
research to identify the peculiarities of Ukraine's 
post-war economic recovery in the context of 
European integration. The fundamental principles 
of the ecological component of the nation's post-war 
recovery were elucidated through an examination  
of the induction method. The mechanisms and 
prospects for Ukraine's post-war economic recovery 
were identified by means of the deduction method. 
The methodological rigour that characterises scientific 
research has enabled the analysis of Ukraine's post-war 
economic recovery as a multi-vector process involving 
the reboot and modernisation of the economy. 

3. Political and Legal Foundations  
of Ukraine's Post-War Economic Recovery

Since Russia's full-scale invasion of Ukraine, four 
international conferences on Ukraine's recovery have 
been held: in Lugano, Switzerland (4–5 July 2022); 
London, United Kingdom (21–22 June 2023); 
Berlin, Germany (11–12 June 2024); and Rome, Italy  
(10–11 July 2025). The first conference initiated 
the process of Ukraine's post-war recovery, bringing 
together major powers from around the world who 
were seeking to provide financial assistance. In the 
course of the conference, the Ukrainian authorities 
presented a plan for the recovery of the country. This 
plan had been prepared by the National Council for the  
Recovery of Ukraine from the Effects of War, which 
is an advisory body to the President of Ukraine. 
The objective of the programme is to accelerate the 



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sustainable economic growth of the country by 2032.  
It is evident that the situation is evolving, as  
evidenced by the ongoing Russian-Ukrainian war, 
which has resulted in a persistent escalation of the 
destruction inflicted on Ukraine. The plan is based 
on the following five key principles: an immediate 
start with gradual development; increasing equitable 
prosperity; integration into the EU; rebuilding better 
than before; and stimulating private investment and 
entrepreneurship (Plan for the recovery of Ukraine, 
2022).

It is imperative to acknowledge that the process 
of post-war economic recovery in Ukraine must be 
conducted in compliance with the EU's stipulated 
requirements, particularly in the context of Ukraine's 
potential accession to the European Union.  
The integration of Ukraine into the European Union 
as a fundamental principle of post-war reconstruction 
is pervasive, encompassing all aspects of the nation's 
recovery, including its economy. Moreover, the 
aforementioned document alludes to the necessity of 
a gradual transition to a "green economy" within the 
context of the European Green Deal. In accordance  
with the strategy for Ukraine's post-war recovery, 
a pivotal objective is to ensure macro-financial stability. 
This encompasses the financial stability of the nation, 
the effective operation of the banking system and 
financial markets, and the adept management of state 
assets (Plan for the recovery of Ukraine, 2022). 

In the context of post-war recovery, particular  
attention should be paid to the transformation of 
priority sectors that will contribute to the country's 
economic growth. The Post-War Recovery Plan  
for Ukraine is a document which establishes the 
overarching framework for the recovery process.  
It defines the main directions for the recovery process 
and ensures the coordinated participation of all 
interested states and international organisations.

In the aftermath of the international conference on 
Ukraine's recovery, held in Lugano, the participating 
countries proceeded to sign a definitive document, the 
Lugano Declaration. The document under discussion 
sets out seven guiding principles for Ukraine's 
recovery. These are as follows: partnership; focus on 
reforms; transparency, accountability, and the rule 
of law; democratic participation; multi-stakeholder 
engagement; gender equality and inclusion; sustainable 
development. It is evident that all of these factors 
are directly relevant to the recovery of the Ukrainian 
economy. It is important to acknowledge that this 
declaration is a political document and is not legally 
binding (Lugano Declaration, 2022).

In the course of subsequent international conferences 
on the recovery of Ukraine, the current status and 
prospects for implementing the aforementioned plan 
were discussed by the states concerned. At each event  
of this level, all efforts of the states were aimed at 

mobilising resources for the implementation of  
measures for the post-war reconstruction of Ukraine. 
This was especially the case with regard to the 
modernisation of the country's economy in accordance 
with EU standards. In the contemporary Ukrainian 
government's agenda, the objective of full integration 
into the EU internal market is a prominent one. It is 
a commonly held view that, in general, participants 
at international conferences focus on four thematic 
dimensions. The business dimension is related to 
mobilising the private sector for reconstruction and the 
economic growth of the state. The human dimension 
is concerned with the social recovery of Ukraine, as 
well as the preservation and development of human 
capital for the country's future. In particular, the local 
and regional dimension consists of increasing the 
importance of local self-government and regional  
state administrations in recovery and ensuring 
their access to financing. Undoubtedly, the primary 
dimension is the EU dimension, as it is linked to 
Ukraine's accession to the EU and the fulfilment of 
its international obligations. The hypothesis that  
deepening European integration and eventual  
accession to the EU single market will ensure long-term 
economic and social progress in Ukraine is one that 
merits rigorous investigation (Conference on Ukraine's 
recovery: Concept note for international partners, 
2025).

It is important to note that the European Commission's 
Communication to the European Parliament, the 
European Council, the Council, the European 
Economic and Social Committee, and the Committee 
of the Regions "Relief and Reconstruction of Ukraine" 
(2022) reflects the EU's overall vision for the future 
reconstruction of Ukraine. In particular, the document 
states that the overall reconstruction of Ukraine will 
require comprehensive support to rebuild the country 
after the war damage, to create the foundations of 
a free and prosperous country, anchored in European 
values, well integrated into the European and global 
economy. It is imperative that reconstruction efforts 
are grounded in Ukraine's responsibility, entailing 
close co-operation and coordination with nations 
and international organisations that are providing  
assistance. Furthermore, it is essential to emphasise 
Ukraine's strategic partnership with the EU. It is  
asserted that one of the four pillars of reconstruction  
is to ensure the recovery of Ukraine's economy by 
promoting economic competitiveness, sustainable 
trade, and private sector development, while 
contributing to the green and digital transition of 
the country. Moreover, the document alludes to 
a financial support mechanism from the EU, designated 
as the "Ukraine Facility". It should be in line with  
Ukraine's reform programme aimed at integration 
into the EU (Communication "Ukraine Reliеf and 
Reconstructіon", 2022).



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The objectives of the mechanism should include 

the following: providing support for the restoration, 
reconstruction and modernisation of Ukraine; 
mobilising investment in Ukraine's private sector to 
facilitate rapid economic recovery and reconstruction; 
providing financial support to Ukraine; supporting 
Ukraine in implementing the reforms necessary  
for EU accession; supporting Ukrainian society as 
a whole to address the social consequences of the war.

It is important to note that on 18 March 2024, the 
Cabinet of Ministers of Ukraine adopted a resolution 
entitled "On Approval of the Plan of Ukraine" within 
the framework of the "Ukraine Facility" mechanism. 
In particular, in April 2024, the European Commission 
approved a Reform Plan for Ukraine with the aim of 
implementing this mechanism. The document stipulates 
the conditions that must be met for the country to 
receive 50 billion EUR in macro-financial assistance 
during the 2024-2027 period. The objective of this 
plan is to function as a programme for the recovery and 
economic development of Ukraine. This is consistent 
with the objectives of Regulation (EU) 792/2024  
of the European Parliament and of the Council of 
29 February 2024, which established the "Ukraine 
Facility" and which entered into force on March 1, 
2024. The implementation of this plan is a prerequisite 
for the provision of financial support to Ukraine. The 
primary objectives are to promote macrofinancial 
stability in Ukraine and ease its external and internal 
financial constraints, ensuring the continued 
functioning of the state. Other objectives include 
restoring and modernising infrastructure damaged by 
the Russian-Ukrainian war, facilitating the transition to 
a sustainable, climate-neutral and inclusive economy, 
creating a stable investment environment, supporting 
Ukraine's integration into the EU internal market, 
strengthening strategic sectors of the economy 
and ensuring a sustainable and fair green transition 
in all sectors, including Ukraine's achievement of  
climate neutrality (Regulation 792 of the European 
Parliament and of the Council establishing the  
"Ukraine Facility", 2024).

The "Ukraine Facility" plan outlines reforms that will 
lay the groundwork for Ukraine's economic recovery 
and development, as well as its integration into the 
EU. These reforms fall into three categories: basic, 
economic and sectoral. The economic reforms are to 
be implemented in five areas: financial markets, state 
asset management and privatisation, human capital, 
the business environment, and decentralisation and 
regional policy. Sectoral reforms, in turn, should ensure 
comprehensive economic development. These sectors 
include energy, transport, agri-food, critical materials 
management, digital transformation, the green 
transition and environmental protection. This plan 
forms the basis for Ukraine's recovery, reconstruction 
and modernisation, and can simultaneously accelerate 

its path to EU membership. Implementing it should 
bring Ukraine closer to the EU single market by ensuring 
greater compliance with European standards and 
facilitating further integration with EU Member States. 
Reforms in key sectors will contribute to the country's 
economic growth and attract foreign investment  
(Plan for "Ukraine Facility" (2024-2027)).

It is worth recalling that on August 30, 2024, the 
Cabinet of Ministers of Ukraine adopted the Resolution 
"On Approval of the Strategy for the Recovery, 
Sustainable Development and Digital Transformation  
of Small and Medium-sized Enterprises for the Period 
until 2027 and Approval of the Operational Plan 
of Measures for its Implementation in 2024-2027". 
This strategy is consistent with, and complementary 
to, the Reform Plan for Ukraine. It is intended for 
implementation in the context of Ukraine's integration 
into the EU. According to the document, the strategy 
aims to improve state policy in the development and 
support of small and medium-sized enterprises, which 
are a key sector of the domestic economy, in the  
context of Russia's full-scale armed aggression against 
Ukraine. The objective is to achieve this by creating 
conditions for sustainable development, added value 
and digital transformation, facilitating access to  
finance, and supporting the growth of small and 
medium-sized enterprises in domestic and foreign 
markets, especially in the EU domestic market.  
The strategy delineates four objectives, which include 
the following: the restoration and facilitation of the 
process of conducting business; the promotion of 
innovative development, digital transformation and 
the green transition; the development of human capital 
and entrepreneurial culture; and the strengthening 
of competitiveness and the augmentation of exports. 
Overall, it enables the detailed elaboration of the 
directions for developing the Ukrainian economy 
as set out in the Reform Plan for Ukraine, and allows 
for the inclusion of a number of measures to support  
small and medium-sized enterprises (The Resolution 
of the Cabinet of Ministers of Ukraine "On Approval  
of the Strategy for the Recovery, Sustainable 
Development and Digital Transformation of Small and 
Medium-sized Enterprises for the Period until 2027  
and Approval of the Operational Plan of Measures for 
its Implementation in 2024-2027", 2024).

In 2024, the Ministry for Development of 
Communities, Territories and Infrastructure of Ukraine 
presented a Draft Law of Ukraine "On Principles of 
Ukraine’s Recovery", aimed at regulating the basic legal, 
organisational, and financial principles for the effective, 
transparent, and accountable recovery of Ukraine, as 
well as the principles for the creation and functioning 
of the DREAM system – the Digital  Restoration 
EcoSystem for Accountable Management. However,  
the proposed legislation did not ultimately come to 
fruition. Concurrently, the sole legislation in Ukraine 



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that delineates the economic tenets of state regional 
policy and stipulates the particulars of the recovery 
of regions and territories adversely affected by armed 
aggression against Ukraine is the Law of Ukraine "On 
Principles of State Regional Policy" of February 5, 2015.

Undoubtedly, Ukraine needs to develop and 
implement a strategy for its economic recovery after the 
end of Russia's armed aggression. The implementation 
of such a strategy should not only contribute to the 
recovery of the economy after the war, but also prepare 
the country for full membership of the European 
community. This would open up new opportunities 
for sustainable economic development and improve 
citizens' quality of life. L. Voytovych and M. Fedyk 
(2024) propose to identify the following components 
of the strategy: industrial recovery; modernization of 
critical infrastructure and development of innovative 
sectors of the economy; attraction of international 
investment; creation of a favourable investment  
climate; ensuring energy security; preservation 
and development of human resources. Conversely, 
R. Bedriy hypothesises that the attainment of  
sustainable economic development in Ukraine 
following the cessation of hostilities with Russia is 
contingent on the revitalisation of Ukrainian cities.  
It is his conviction that particular emphasis should 
be placed on the provision of organisational and legal 
support for the reconstruction of Ukrainian cities. 
Consequently, the strategy for the post-war recovery of 
the country's economy must prioritise local economic 
development (Bedriy, 2023).

It should be noted that Ukraine's post-war economic 
recovery strategy must consider the interests of all 
those involved in the reconstruction process, including 
government authorities, international partners, 
citizens and businesses. The strategy must establish the 
regulatory, institutional and organisational conditions 
necessary for the long-term development of Ukraine's 
economy. Furthermore, the strategy must reflect 
European values and priorities (Yanchuk, 2024). 

4. The Peculiarities  
of Ukraine's Economic Recovery  
in the Context of European Integration

The economic revival of Ukraine is one of the 
strategic objectives of post-war recovery, especially 
in the context of the country's accession to the EU. In 
particular, the European Commission's Communiqué 
"Ukraine Reliеf and Reconstructіon" of 2022 views 
post-war reconstruction as a systemic process that 
includes recovery from the consequences of the war, 
modernisation of the country, implementation of a wide 
range of European integration reforms, and support 
for the medium-term development of the economy 
and society, contributing to the green and digital 

transformation of the state (Communication "Ukraine 
Reliеf and Reconstructіon", 2022).

According to R. Bedriy, the post-war recovery of 
Ukraine should be understood as a comprehensive 
transformation, which consists not so much in 
restoring the country to its pre-war state as in its deep 
modernisation. The reform of fundamental elements 
of the economy and society is a key component of 
this strategy, including infrastructure, technology, 
the business environment, institutions, education 
and healthcare. Such a transformation is argued to be 
instrumental in enabling Ukraine to move away from 
its post-Soviet past and evolve into a fully-fledged 
democratic state with a modern economy and a  
robust defence sector (Bedriy, 2023).

In particular, Director of the Institute for Economics 
and Forecasting of the National Academy of  
Sciences of Ukraine V. Heyets identifies three main 
directions of economic development in the current 
environment. It is his conviction that the following 
elements should be incorporated: the realisation of 
carbon neutrality; the formulation of industrial policy; 
and the advent of a new industrial revolution, alongside 
investment in human capital (NAS of Ukraine: 
achievements, challenges and vectors of development, 
2025). The success of Ukraine's post-war economic 
recovery is contingent upon these factors. Moreover, 
from the perspective of the scientist, the Law on State 
Strategic Planning should become an important tool 
for national rooting of economic development. Absent 
this commitment, the challenges inherent in the post-
war recovery of Ukraine as a whole will be formidable. 
Based on the experience of other countries, Ukraine 
should develop its own economic system that is  
centred around liberal market mechanisms, state 
support for strategic industries, investment in the 
domestic market, and innovation. Similarly, Ukraine 
must develop its own economic system that incorporates 
these principles (How to build the sustainability of 
Ukraine's economic development, 2025).

It is worth recalling that the development of 
the national economy, civil society and the state 
to ensure the growth of the level and quality of 
life of the population is one of the fundamental 
interests of Ukraine according to the Law of Ukraine  
"On National Security of Ukraine" of 2018 (The Law 
of Ukraine "On National Security of Ukraine", 2018). 
The Russian-Ukrainian war has had a dual effect 
on Ukraine: it has catalysed destructive processes  
in the country, but it has also created a window of 
opportunity. With strong EU support, Ukraine has 
the opportunity to modernise in all areas, including 
the economy. The Ukrainian economy has undergone 
significant changes since Russia's full-scale invasion. 
This was caused by disruptions to value and supply 
chains, logistical issues, labour shortages, changes to 



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international food and energy markets, and higher 
prices for essential products. Undoubtedly, the post-
war economic recovery will be phased. For example, 
O. Borodina and V. Lyashenko propose to distinguish the 
following stages of economic recovery: 1) preparation 
for large-scale post-war changes (minimisation of all 
damages caused by the war; relocation of businesses; 
documentation of damages, systematisation of damages 
by categories and development of a reconstruction plan 
on this basis); 2) restoration of critical infrastructure 
(restoration of power grids, roads, railways, gas 
supply, water supply, Internet; rebuilding of hospitals 
and schools, temporary housing, primarily for those 
who lost it); 3) reсovery of the economy as a whole 
(creation of jobs and permanent sources of income 
generation; introduction of the latest urban planning 
and architecture approaches to rebuild destroyed  
cities; continuation of reforms to harmonise national 
legislation with the European one (introduction of 
the European certification system, anti-oligarchic 
laws; reform of the law enforcement sector; effective 
anti-corruption policy; ensuring transparency of 
public procurement; introduction of measures for 
nationalisation, modernisation and privatisation 
of industrial facilities); 4) stable economic growth 
(programmes to support and develop entrepreneurship 
by stimulating regulatory and tax policy; prudent 
financial policy; strengthening the energy sector; 
implementation of the concept of outsourcing to turn 
Ukraine into a mega-industrial park for Europe; effective 
regional energy management) (Borodina, Lyashenko, 
2022).

According to V. Shynkar and L. Teplova, Ukraine 
needs to change its destructive model of economic 
development in the process of moving towards EU 
membership. This is evident from the decreasing  
share of the high-tech industry in the Ukrainian 
economy and the increasing share of low-value goods 
such as grain and unprocessed wood. According to 
the scientists, Ukraine's economy produces almost 
no modern equipment, meaning that domestic 
enterprises are forced to buy it mainly from abroad. 
This, in turn, exerts an additional strain on the balance 
of payments, the chronic negative balance of which 
periodically results in the devaluation of the national 
currency (Shynkar, Teplova, 2023). In the aftermath 
of the war, Ukraine is poised to embark on a period of  
economic reconstruction, a process that is deemed 
indispensable for ensuring sustainable economic 
growth, enhancing competitiveness, and integrating 
the nation into the global economic landscape.  
In particular, the state should focus on three things: 
first, structural diversification of the economy; second, 
the development of high-tech production; and third, 
stimulating innovation (Kostyk, Chekalovska, 2024).

The Ukrainian economy should be constructed in 
accordance with the industrial and innovative type 

through technological and digital transformation  
based on the principles of Industry 4.0 and Industry 
5.0 on a global scale. It is imperative that Ukraine's 
industry contributes to the creation of a highly  
developed industrial economy. Such a contribution 
would ensure the country's reconstruction and  
maintain its defence capability, as well as enable 
a rapid response to the needs of defending the state  
(Nosyrev, 2023).

For Ukraine to join the EU, it must meet the 
Copenhagen criteria. One of these is ensuring 
a functioning market economy and the ability to 
compete within the EU's single market. Financial 
support, post-war recovery and EU membership all 
depend on the implementation of economic reforms. 
The Ukrainian economy is already largely integrated 
into the EU's internal market. The EU has long  
been Ukraine's main trading partner. Ukrainian 
businesses are gradually becoming part of the European 
market. The process of economic integration into 
the EU has been shown to engender a number of 
new opportunities for Ukraine. These include access 
to the European market, the attraction of foreign 
investment, and support from European financial 
institutions. In accordance with European standards, 
it is recommended that Ukraine utilise all available 
instruments of European integration to support the 
national economy. Notwithstanding the advantageous 
aspects of trade between Ukraine and the EU, it is 
also incumbent to consider the problematic aspects. 
These include trade barriers, inequitable conditions of 
competition, inadequate transport infrastructure, and 
political and economic instability resulting from the 
Russian-Ukrainian war. This has resulted in a reduction 
of Ukraine's production capacity and export potential 
(Zalizniuk, Artamonova, 2025). The process of post-
war economic recovery in Ukraine is a multifaceted 
and intricate undertaking. As posited by Voytovych 
and Fedyk (2024), the agenda should comprise the 
restoration of the country's industrial potential, the 
modernisation of critical infrastructure, and the 
development of innovative sectors of the economy 
in accordance with European standards. As asserted 
by Lytvyn, Onyshchenko and Ostapenko (2023), it 
is projected that a period of 5-7 years will be required 
for the nation to regain the economic potential that 
was forfeited during the war. It is acknowledged  
that investments in critical infrastructure, including 
transport and energy, have the potential to substantially 
hasten recovery and establish the foundations for 
sustainable economic growth in Ukraine (Klopov, 
Ohrenych, 2024). In the context of European 
integration, the following tasks of Ukraine's post-war 
economic recovery are recommended for emphasis: 
the creation of a favourable investment climate; the 
restoration and development of critical infrastructure; 
the restoration and development of industry; the 



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assurance of energy independence; the attraction 
of international investment; and the preservation 
and development of labour resources (Voytovych,  
Fedyk, 2024). 

According to V. Heyets, Ukraine should act as 
a national leader of economic revival, creating an 
organisation coordinated with external partners 
to ensure the purposeful participation of many 
stakeholders in the revival of Ukraine's economy.  
The foundation for the development of a logistical 
scheme for the implementation of revival projects 
can be the establishment of sustainable development 
in accordance with the Millennium Development  
Goals. The scientist observes that, in this direction, 
Ukraine's full participation in the rise of European 
competitiveness on the basis of achieving sustainable 
growth, including in the Ukrainian economy, will be 
ensured (Heyets, 2024).

In the context of European integration, the post-war 
recovery of Ukraine's economy should include the 
digitalisation of the economy. It is important to note 
that the digitalisation of the economy is characterised 
by the integration of digital technologies into all areas 
of economic activity. Ukraine has become a participant 
in the EU's Digital Europe programme, which will 
continue until 2027. The objective of this initiative is 
to facilitate Ukraine's economic recovery and digital 
transformation. The programme has been designed 
to provide funding for projects in four distinct areas: 
high-performance computing; artificial intelligence, 
data and cloud services; digital skills; and the use of 
digital technologies in the economy and society; and 
cybersecurity. 

S. Bashlai and I. Yaremko note that, in the long 
term, Ukraine can focus on building a reliable data 
infrastructure to measure the digital economy and 
support evidence-based strategies in the context  
of the digitalisation of the economy. Additionally, 
businesses need to invest heavily in developing and 
creating digital platforms in the context of digitalisation. 
Consequently, co-operation and convergence, 
cybersecurity, digital competence and developing the 
necessary digital skills should become key areas of 
business management (Bashlai, Yaremko, 2023).

5. The Environmental Component  
of Ukraine's Economic Recovery  
after the End of Russia's Armed Aggression

It is imperative to acknowledge that the post-war 
economic recovery of Ukraine should be executed in 
accordance with the EU's prevailing environmental 
standards. As Ukraine gradually moves closer to 
joining the EU, the implementation of the European 
Green Deal (EGD), which aims to achieve climate 
neutrality by 2050, is a mandatory task for the country.  
The overarching principles of the EGD are articulated  

in the European Commission's Communiqué  
"European Green Deal" of 11 December 2019. 
The European Green Deal (EGD) sets out 
a series of ambitious targets for the EU to achieve by 
2030 and 2050. These include increasing the EU's 
climate ambition, supplying clean, affordable and 
secure energy, mobilising industry for a clean and 
circular economy, building and renovating in an energy 
and resource efficient way, accelerating the shift to 
sustainable and smart mobility, designing a fair, healthy 
and environmentally-friendly food system, preserving 
and restoring ecosystems and biodiversity, and striving 
for zero environmental pollution (Сommunication 
from the European Commission "The European  
Green Deal", 2019). 

 In the context of global climate challenges and 
European integration aspirations, the ecological 
transformation of the economy should be considered 
a critically important direction for Ukraine's 
development. According to Glushchenko (2025), the 
transition to a "green economy" should be achieved 
through comprehensive restructuring of production 
processes and implementation of energy-efficient 
technologies across all sectors.

In accordance with paragraph 8 of the Peace Formula 
of Ukrainian President V. Zelenskyy, presented at 
the G-20 Summit in 2022 (Ukraine's Peace Formula 
Philosophy, 2022), recovery and reconstruction, 
including the transition to a "green economy", is one 
of the areas ensuring environmental security and 
countering the environmental consequences of war.

The concept of a "green economy" has been proposed 
as a novel, strategic approach to the development 
of global, national, and regional economies.  
The fundamental objective of this concept is to achieve 
environmental and social outcomes that are intended 
to guarantee sustainable economic growth (Horbach, 
Ruban, Humeniuk, 2024).

The "green economy" offers a promising path to 
sustainable development in Ukraine. It should not 
only be a means of post-war recovery, but also a key 
factor in achieving this. A green economy can help 
solve environmental problems, create new jobs and 
improve energy efficiency. Implementing a green 
economy supports the restoration of infrastructure, 
the development of renewable energy sources,  
and a reduction in dependence on coal and oil 
(Shishpanova, Kormishkina, 2024).

In February 2024, the International Working Group 
on the Environmental Impact of War presented 
a new document to the general publics entitled 
"Environmental Compact for Ukraine. Green Future: 
Recommendations on Responsibility and Recovery". 
The document contains recommendations on 
mobilising green reconstruction and environmental 
restoration. The document pays particular attention  
to the need for Ukraine to transition to an 



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environmentally sustainable economic model in the 
context of implementing the EGD. The proposal calls 
for the establishment of a new position focused on 
climate policy and green reconstruction at the level of 
deputy prime minister, or alternatively, the transfer of 
pertinent powers to the deputy prime minister in this 
domain (Environmental Compact for Ukraine. Green 
Future: Recommendations on Responsibility and 
Restoration, 2024).

Furthermore, in 2025, the Ukrainian government 
published the Draft Law of Ukraine "On Principles 
of Green Recovery of Ukraine". The legislative 
framework under discussion was developed with the 
aim of establishing a legislative framework for taking 
into account and integrating environmental and 
climate considerations into the process of Ukraine's 
comprehensive recovery from the consequences of 
Russian armed aggression and Ukraine's transition to 
a "green economy". The document sets out a definition 
of a "green economy". According to the Draft Law, 
the term "green economy" is defined as a state of 
development of the national economy that ensures 
economic growth accompanied by a reduction in net 
greenhouse gas emissions, adaptation to the effects 
of climate change, sustainable use of water resources 
and water protection, circularity in production and 
consumption, prevention and control of environmental 
pollution, restoration and conservation of biodiversity 
and ecosystems. The implementation of this legal 
framework is expected to facilitate the integration 
of the European green taxonomy, thereby attracting  
green investments to Ukraine for the purpose of  
its post-war recovery. However, it is important to note 
that this Draft was never adopted.

The transition to a "green economy" is a challenging 
endeavour for Ukraine. This can be attributed to 
a number of factors, including a general lack of 
environmental awareness, the deployment of outdated 
technologies, inadequate investment in green initiatives, 
and the release of increased harmful emissions 
from military operations in wartime conditions. 
Notwithstanding this fact, Ukraine is gradually 
implementing the environmental component of post-
war economic recovery in the context of the EGD. 
Thus, in 2024, the following important regulatory and 
legal acts were adopted: the Law of Ukraine "On Basic 
Principles of State Climate Policy"; the Resolution of 
the Cabinet of Ministers of Ukraine "On Approval of the 
Strategy for the Formation and Implementation of State 
Policy in the Field of Climate Change for the Period 
until 2035 and Approval of the Operational Plan of  
Measures for its Implementation in 2024-2026"; the 
Resolution of the Cabinet of Ministers of Ukraine  
"On Approval of the National Energy and Climate Plan 
for the Period until 2030". It is imperative that these 
measures contribute to the reduction of greenhouse 
gas emissions and the transition to renewable energy 

sources. In particular, the National Energy and 
Climate Plan for the period up to 2030 should ensure 
the adaptation of the Ukrainian economy to current 
realities, as well as the conservation and rational use of 
natural resources.

6. Mechanisms of Post-War Economic 
Recovery in Ukraine

At present, the international and national 
mechanisms that will be used to carry out the post-
war recovery of Ukraine as a whole remain unclear. 
However, it is evident that the post-war recovery of 
our state, including the economic recovery, should be 
facilitated with international support. Notwithstanding 
the ongoing cessation of hostilities, measures are  
underway to facilitate the prospective rehabilitation 
of the nation. The European Union is the primary 
partner capable of providing financial assistance for 
the implementation of economic recovery measures 
on a permanent basis. Notwithstanding the ongoing 
cessation of hostilities, measures are underway to 
facilitate the prospective rehabilitation of the nation. 
The EU is the primary partner that is prepared to offer 
financial assistance for the implementation of economic 
recovery measures on a permanent basis. In 2022, 
the EU proposed the establishment of a Solidarity 
Trust Fund for Ukraine's reconstruction following the 
conclusion of the Russian-Ukrainian war, emulating  
the European fund established for the purpose of 
combating the coronavirus crisis. The proposed  
financing would be utilised for investments and reforms, 
with the objective of aligning with the Ukrainian 
government's strategic agenda. Consequently, the  
Federal Government of Germany's Minister 
of Development, S. Schulze, has proposed the 
amalgamation of future aid for Ukraine's recovery into 
a special fund alongside the German federal budget. 
In 2022, the European Commission proposed the 
establishment of a new initiative, entitled "Rebuild 
Ukraine", with the objective of providing support to 
Ukraine in its post-war recovery. It is based on co-
operation between Ukraine, the EU, the G7 and the 
G20, as well as international financial institutions 
and organisations. Today, "Rebuild Ukraine" is an EU 
support instrument that combines grants and loans 
to aid Ukraine's economic recovery after the war.  
It helps to attract financial resources for the recovery of 
various economic sectors.

In 2022, the World Bank announced the establishment 
of a multilateral trust fund to support the Ukrainian 
government in implementing measures to address the 
country's urgent requirements in the context of the 
Russian–Ukrainian War and its subsequent recovery. 
This fund is known as the Ukraine Relief, Recovery, 
Reconstruction and Reform Trust Fund (URTF).  
The following year, in 2023, the World Bank's 



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Multilateral Investment Guarantee Agency (MIGA) 
established the Support for Ukraine's Reconstruction 
and Economy Trust Fund (SURE), which is now 
operating successfully. The initial financial contribution 
to the SURE was provided by Japan, as the founding 
member of the fund. Subsequent to this development, 
Norway, Belgium and the United Kingdom acceded to 
the fund. It is submitted that this will assist in attracting 
the requisite private investment in Ukraine, thereby 
ensuring economic recovery in the present and in the 
future. 

In the context of the Russian-Ukrainian war, the 
"Ukraine Facility" is a significant financial support 
programme administered by the European Union.  
The programme was initiated with the objective 
of achieving macro-financial stability in Ukraine 
and modernising all sectors of the economy in 
accordance with European requirements. It is 
imperative to emphasise that the legal foundation for 
the implementation of this programme is delineated 
by the following documents: Regulation of the  
European Parliament and of the Council establishing 
the "Ukraine Facility" of February 29, 2024; the 
Resolution of the Cabinet of Ministers of Ukraine 
"On Approval of the Ukraine Plan" of March 18, 2024; 
Framework Agreement between Ukraine and the  
EU on special mechanisms for the implementation 
of Union financing for Ukraine under the Ukraine  
Facility of May 21-22, 2024 (ratified by the Law of 
Ukraine No. 3786-IX of June 6, 2024); the Resolution 
of the Cabinet of Ministers of Ukraine “Certain Issues 
of Implementation of the Ukraine Facility Instrument” 
of November 15, 2024. As previously stated, the 
provision of financial assistance under this instrument  
is contingent upon the implementation of the EU-
approved Plan for Ukraine, which encompasses 
fundamental economic and sectoral reforms. It is 
posited that, in general, the financial mechanism 
under discussion should contribute to the recovery 
and development of the economy, as well as to the 
improvement of citizens' well-being.

It should be noted that funds from this programme 
go directly to the state budget of Ukraine. In addition, 
in case of detection of corruption schemes and fraud, 
the European Commission may reduce the amount 
of funds to be transferred. By the way, the Cabinet of 
Ministers of Ukraine has approved amendments to 
the Resolution of the Cabinet of Ministers of Ukraine  
"On Approval of the Ukraine Plan" of March 18,  
2024 for the "Ukraine Facility". Consequently, it is 
anticipated that by the third quarter of 2025, legislation 
pertaining to the divestiture of state-owned banking 
institutions and the harmonisation of the Ukrainian 
energy market with the European one will be enacted. 
Subsequently, new legislation designed to stimulate 
investment in renewable energy sources is scheduled  
to come into force in the fourth quarter. 

It is important to note that at the fourth International 
Conference on the Recovery of Ukraine in 2025  
in Rome (Italy), the President of the European 
Commission, Ursula von der Leyen, announced 
the establishment of the European Flagship Fund 
for the Reconstruction of Ukraine. This initiative is 
being developed in co-operation with Italy, Germany,  
Poland, France, and leading development banks. This 
initiative is poised to become the most substantial 
direct investment fund globally, with the primary 
objective of providing support to countries grappling 
with the repercussions of armed conflict. The objective 
of the initiative is to raise 500 million EUR for  
Ukraine's reconstruction by 2026. This mechanism 
is expected to facilitate Ukraine's post-war economic 
recovery and support its accession to the European 
Union. The fund will be open to investment from all 
EU Member States, international partners, institutional 
investors, Ukrainian funds, and private investors.  
The following sectors have been identified as priorities 
for investment: energy, with a particular emphasis 
on renewable energy sources; infrastructure; digital 
transformation; industrial modernisation; production 
of dual-use goods; and critical raw materials. 

It is noteworthy that in the present year, the European 
Union, in collaboration with Denmark, Lithuania, 
Germany and France, has initiated a novel undertaking 
with the objective of providing assistance to Ukraine 
in its recovery following the war. This initiative is 
designated as EU4Reconstruction. The programme is 
scheduled to commence on 10th July 2025 and is set to 
conclude on 30th June 2028.

Despite the existence of financial assistance 
instruments for Ukraine aimed at the post-war recovery 
of the state, a new international mechanism for  
post-war support should be created after the end of 
the Russian-Ukrainian war. This mechanism would  
take the form of an international fund for the post-
war recovery of Ukraine, with economic recovery as a  
separate area of investment. As T. Pikulia observes, 
an alternative option would be to consider the 
establishment of an International Agency for the 
Reconstruction of Ukraine. This agency would be 
affiliated with the EU and would be autonomous in 
its decision-making. The potential benefits of such an 
initiative include the provision of expert advice to the 
state on reconstruction, as well as the assurance that 
financial resources are allocated for their designated 
purpose.

7. Conclusions
Ukraine has not yet produced a comprehensive 

document to regulate relations in the area of post-war 
economic recovery. In light of these challenges, it is 
imperative that the Strategy for Post-War Economic 
Recovery be adopted as a legally binding document,  



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Vol. 11 No. 5, 2025
one which will encompass all salient aspects of the 
nation's economic development in the aftermath of 
the Russian-Ukrainian war, thereby facilitating its 
integration into the European Union. The strategy 
should be aligned with EU principles and standards, 
and should open up new opportunities for the country 
to achieve sustainable economic development. 
The Ukraine Recovery Plan should be regarded as 
a framework document, the purpose of which is to 
define the main directions of the process of rebuilding 
the country.

Ukraine's post-war economic recovery is a complex, 
multifaceted process that must focus on structural 
economic transformation, the development of high-
tech production and the stimulation of innovation. 
The country's post-war economy should be industrial 
and innovative. In the context of European integration, 
Ukraine is tasked with the following: restoring critical 
infrastructure; promoting industrial development; 
creating the conditions necessary for achieving energy 
independence; fostering a favourable investment 
climate; preserving and developing human resources; 
developing innovative economic sectors; and attracting 
international financial support. The implementation 
of these tasks will contribute to Ukraine's integration 
into the EU. A pivotal strategy for the economic 
revitalisation of the state ought to be the digitalisation 
of the economy, in accordance with EU standards.  
It is recommended that particular attention be paid 
to the creation of digital platforms, which have been 
identified as a key driver of economic transformation.

It is evident that the implementation of its 
environmental component is of great importance for 
Ukraine's post-war economic recovery. The transition 

to a "green economy" is expected to ensure Ukraine's 
economic efficiency and competitiveness in European 
and global markets. It is anticipated that this initiative 
will facilitate the harmonious development of pivotal 
economic sectors, thereby enhancing the quality 
of life for the populace. It is incumbent upon the 
Ukrainian authorities to continue the harmonisation 
of national legislation with EU law in order to 
implement the European Green Deal. In addition, it is 
recommended that the Law of Ukraine "On Principles 
of Green Recovery of Ukraine" be adopted, as it has 
been developed in accordance with EU standards.  
The objective is to ensure the attraction of green 
investments for the reconstruction of Ukraine.

The European Union is Ukraine's primary partner, 
providing substantial funding for projects aimed 
at Ukraine's post-war recovery. It is the opinion of 
the present authors that, in spite of the existence 
of the financial instruments already in place, a new 
 international mechanism for post-war support should 
be created in the future. This new mechanism should 
take the form of an international fund for Ukraine's  
post-war recovery. It is imperative that the state's 
investment portfolio be diversified into a distinct  
sector, with the primary objective of facilitating 
its economic recovery. The financial provision of 
such a fund is to be derived from a combination of 
sources, including financial assistance from partner 
countries, international organisations, as well as funds 
from sanctions and forcibly seized Russian assets.  
The absence of an autonomous auditing entity to  
oversee the acquisition and utilisation of financial 
resources for their designated objective renders the 
system inherently vulnerable.

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Received on: 23th of August, 2025
Accepted on: 10th of October, 2025

Published on: 21th of November, 2025