Ukraine · Country watch

Ukraine GDP Falls, Power Outages Worsen

Ukraine's GDP contracts more than expected as power outages intensify, impacting businesses and economic forecasts.

Florent Kalfon · 4 November 2026 · 5 articles read

The picture Deteriorating How this is judged →

Business conditions in Ukraine are deteriorating as GDP contracts more than expected and power outages worsen, impacting economic forecasts and operations.

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In this briefing National Bank of Ukraine · Ukrenergo · DTEK · State Statistics Service of Ukraine

Regulation

Finance

NBU Introduces Daily Hryvnia-Euro Exchange Rate

The National Bank of Ukraine (NBU) has introduced a daily reference exchange rate for the hryvnia against the euro, effective November 4. This new financial benchmark aims to support the growing volume of euro-denominated transactions as Ukraine strengthens its economic ties with the European Union. The move is expected to provide more stability and predictability for businesses engaged in cross-border trade with EU countries.

Impact Importers and exporters dealing in euros gain a more stable reference point for currency transactions.

Sources: KyivPost ↗

Disruption

Energy
Public sector

Ukraine Plans All-Day Power Cuts on November 5

Ukraine's national energy company Ukrenergo announced that power outages will be implemented throughout the day on November 5 for both businesses and residential consumers. This measure is part of ongoing efforts to manage the country's strained energy resources amid continued Russian attacks on infrastructure. The outages are expected to affect operations and daily life significantly, as the country struggles with energy shortages.

Impact Energy-intensive businesses and households will face disruptions due to scheduled power outages across Ukraine.

Sources: Komsomolskaya pravda ↗

Energy
Public sector

DTEK Power Plants Halted After Russian Strikes

DTEK, Ukraine's largest private energy company, reported that three of its thermal power plants ceased electricity production following extensive damage from Russian attacks on November 3. The strikes led to significant destruction, further straining Ukraine's energy infrastructure. DTEK has released images showing the scale of the damage, underscoring the challenges in maintaining energy supply amid ongoing conflict.

Impact Energy suppliers and businesses face increased challenges as DTEK plants halt operations, exacerbating power shortages.

Sources: Censor.net ↗

Markets

Public sector
Finance

Ukraine GDP Contracts 0.7% in Q3, Exceeding NBU Estimate

Ukraine's economy contracted by 0.7% in the third quarter of 2026, according to the State Statistics Service (Ukrstat). This decline is worse than the National Bank of Ukraine's (NBU) earlier estimate of a 0.5% decrease. The contraction follows a 0.4% growth in the second quarter and a 0.6% decline in the first quarter, reflecting the economic toll of Russian strikes over the summer. The NBU had previously forecasted a 0.4% contraction for the entire year, highlighting ongoing economic challenges.

Impact Lenders and investors face a tougher economic environment as Ukraine's GDP falls more than expected.

Sources: KyivPost ↗, Newvoice ↗

Nothing significant reported today in Internal tension · Safety & health · Companies · Trade · Politics.