Inflation in Ukraine accelerated to 12% in 2024, exceeding forecasts made by the country's National Bank, Ukraine's statistics service Derzhstat announced on Jan. 10. The Ukrainian economy has undergone harsh conditions with the onset of Russia's full-scale invasion of Ukraine in 2022.

Ukraine's central bank raised the main interest rate to 14.5% to curb inflation, challenging economic recovery amid war with Russia. Inflation hit 12% in December, driven by rising costs and power shortages.

Alexandra Prokopenko is a Fellow at the Carnegie Russia Eurasia Center in Berlin. She worked at Russia’s central bank until early 2022.

DEEP DIVE — Nearly three years into its costly war against Ukraine, Russia’s economy is faltering under the strain of sanctions, inflation, and high borrowing costs. While Western hopes that the sanctions would bring economic collapse proved premature, the cumulative toll is now evident.

Russia recorded in 2024 a budget deficit exceeding three trillion rubles for the third consecutive year, soaring to 3.49 trillion rubles ($34.39 billion), according to the country's finance ministry.

Exclusive: Ahead of Monday's inauguration, Lord Ashcroft reveals just how the 47th President of the UK might bring war to an end in Europe

Inflation in Russia accelerated in 2024, official statistics published Wednesday showed, as the costs of Moscow's full-scale offensive on Ukraine weigh on the domestic economy. The Kremlin has ...

Ukraine's National Bank (NBU) announced on Jan. 23 that it will raise the key policy rate from 13.5% to 14.5% per annum starting from Jan. 24, 2025.

President Donald Trump said he would ask Saudi Arabia and other OPEC nations to “bring down the cost of oil” and reiterated his threat to use tariffs to bring manufacturing back to the US as he addressed world leaders gathered in Davos on Thursday.

Connecting via video conference to an audience comprising businesspersons and political leaders from all over the world, Trump spoke on a variety of topics, and answered several questions on geopolitics,

Vladimir Putin is growing distressed by challenges cropping up in the country's economy, which include high inflation and labor shortages, Reuters reported.