Ukrainian Businesses Expect Hryvnia Revenue Growth, Brace for War Through 2027

Ukrainian businesses anticipate continued growth in hryvnia revenues for the 2027 fiscal year, despite a significant portion expecting the conflict to persist through that period. When asked about their expectations in hryvnia terms, 53% of surveyed executives believe revenue will increase, while 29% anticipate a decline and 18% see no change compared to 2026. However, sentiment becomes more pessimistic when viewed in US dollar terms: 41% predict revenue will fall, 36% expect growth, and 23% foresee stability.

The insights come from the European Business Association's (EBA) annual survey of corporate CEOs, which reveals that most respondents (98%) are preparing their 2027 business plans with the war in mind. Nonetheless, companies are investing in digital transformation, such as adopting artificial intelligence tools to offset labor shortages.

Of those surveyed, 83% plan to deploy AI technologies in 2027 to automate processes, boost productivity, and mitigate workforce constraints. Additionally, a significant number of companies (48%) intend to allocate funds to social initiatives, with an average investment of 4% of annual revenue.

Despite the challenges, some businesses plan to expand in 2027. About 3% of respondents intend to launch new large-scale projects, with an average estimated cost of approximately $5 million. Anna Derevyanko, EBA's executive director, emphasized the importance of protecting business assets and enhancing energy sustainability in her recent statement. She highlighted that despite the ongoing conflict, businesses remain focused on systemic changes necessary for the economy's long-term development and recovery.