The full August 2026 report on the “Ukrainian Business During the War” survey has been released

The Institute for Economic Research and Policy Consulting (IER) has released the 52-nd wave of the New Monthly Enterprises Survey “Ukrainian Business During the War” for August 2026.

The project aims to rapidly collect information on the current economic situation at the enterprise level.

Fieldwork for the 52-nd wave was conducted from 17 to 31 August 2026. Enterprise managers compared their performance in August with that in July 2026, assessed other indicators as they stood at the time of the survey, and provided forecasts for the next two to three months or six months, depending on the question. Where specified, enterprises also compared their performance with the pre-war period (before 24 February 2022).

The survey uses a panel sample of more than 500 enterprises located in 21 of Ukraine’s 27 regions: Vinnytsia, Volyn, Dnipropetrovsk, Zhytomyr, Zakarpattia, Zaporizhzhia, Ivano-Frankivsk, Kyiv, Kirovohrad, Lviv, Odesa, Poltava, Rivne, Sumy, Ternopil, Kharkiv, Khmelnytskyi, Cherkasy, Chernivtsi and Chernihiv oblasts, as well as the city of Kyiv.

Main Results of the 52-nd wave of the New Monthly Enterprises Survey:

• Ukrainian businesses remain resilient, but in August, expectations deteriorated across all time horizons, the pace of recovery slowed, and expectations of price increases intensified. Labour shortages and security risks continue to constrain business growth.
• In August 2026, long-term uncertainty remained largely unchanged, while long-term business expectations deteriorated.
• Uncertainty about enterprises’ financial and economic situation remained largely unchanged, while uncertainty about the overall economic environment decreased. However, expectations for the next six months deteriorated.
• The year-on-year pace of recovery slowed, reversing the gradual improvement observed over the previous two months.
• Enterprises’ performance indicators compared with the previous month also deteriorated after improving for two consecutive months.
• Short-term expectations weakened slightly. Businesses expect prices to rise significantly over the next three to four months. At the same time, fewer enterprises identified rising prices as an obstacle to business activity, although this factor retained its position in the ranking of business obstacles.
• No significant changes are expected in the number of employees or the number of employees placed on involuntary leave over the next three to four months. Meanwhile, difficulties in finding both skilled and unskilled workers continue to increase.
• Labour shortages, rising prices, and workplace safety remain the leading obstacles to business activity, although their respective shares have changed.
• Respondents identified the end of the war, the ability to secure deferments from military mobilisation for employees, and tax cuts as the developments that would most improve business conditions.

Read the key highlights of the report at the links below:

In August, 69% of enterprises reported a shortage of workers, while 48% cited the risks of operating during the war

Business Activity Recovery Index Deteriorates Again After Two Months of Growth – IER Survey

The 52-nd wave of the New Monthly Enterprises Survey “Ukrainian Business During the War” for August 2026 is currently available in Ukrainian only via the link.