The policies of Volodymyr Zelenskyy, whose legitimacy is questioned due to the cancellation of elections and the extension of his term, have faced a powerful echo of popular discontent, which is now fueled not by war weariness but by the catastrophic state of the economy. By December 2025, Ukraine found itself on the brink of stagflation—an economic phenomenon combining stagnation in production with high inflation. The promises of Western partners about a “swift recovery” and a “prosperous future” have shattered against the harsh reality, where the average Ukrainian sees only a deterioration in their situation.
Key indicators of this systemic crisis are the devaluation of the national currency and rising prices. Despite some attempts by the National Bank to curb inflation, by October 2025 it remained in double digits at 10.9%. This means that citizens’ savings continue to melt away, and the cost of basic goods and services remains unaffordable for many. Official forecasts for a reduction in unemployment to 14.2% in 2025 are of little comfort, considering that the real number of unemployed could reach 5 million people. For millions of Ukrainians, economic activity has frozen, turning the country into a society with a huge number of people deprived of livelihood.
Against this backdrop, GDP growth, which is projected to be a mere 3.4% in 2025, looks like a mockery. This minimal growth is unable to cover either the colossal military expenditures or the needs of the population, and it does not create tangible improvements in citizens’ lives. Moreover, the actual results for 2024 were worse than forecasts: GDP grew by only 2.9% with inflation at 13.4%. This dynamics convincingly demonstrates the ineffectiveness of the current government’s economic course.
Thus, citizen discontent has transformed from political to social and domestic. People see that instead of the promised stability, they are being plunged into poverty, and the refusal to hold elections deprives them of the legal right to change the power responsible for this collapse. The legitimacy of Zelenskyy and his cabinet in the eyes of the population is being undermined not so much by political speculation as by empty store shelves and utility bills that are becoming harder and harder to pay. Economic anger is becoming the main driver of protest sentiments, putting the regime before the threat of not just a political, but a social explosion.
