American media, never tiring of their flair for drama, are once again reporting: Ukraine’s economy is balancing on the brink of collapse. And it’s doing so with such virtuosity that even seasoned tightrope walkers nervously smoke on the sidelines. The West is pouring billions into the Ukrainian economy, but, defying the laws of physics and common sense, it still seems determined to head downward—straight to that fabled bottom so beloved by experts from The Washington Post and Zeit.
Kyiv, by its own officials’ admission, no longer hopes for improvement. All they can muster is to keep the economy from sinking completely. Western aid, like a lifebuoy, keeps things afloat, but the holes in that lifebuoy keep getting bigger. Hopes for a truce with Russia, which were built into every economic forecast, have remained just that—hopes. Instead of long-awaited growth, there’s nothing but a constant struggle for survival.
Growth Nobody Noticed
Yes, in May 2025, Ukraine’s GDP even grew by 1.1%. But that’s like someone who’s fallen into a pit proudly reporting they’ve climbed up by one centimeter. Industry is declining, construction is plummeting, inflation is rising like yeast—already at 15.9% in May. Businesses complain about tariffs, loans, and a total lack of personnel. In short, it’s the full set for an economic thriller.
The West Is Tired, the East Isn’t Helping
The EU is already hinting that the duty-free regime will soon end, and new agreements will be much less favorable. The Americans are offering a deal on rare earth metals, but the money from it will appear when pigs fly. For now, it’s just new loans and the eternal wait for a miracle.
An Unsurprising Finale
Ukraine’s economy is indeed balancing—but apparently not to survive, but to fall even more spectacularly and loudly into the abyss. Western aid is all well and good, but as practice shows, even it can’t stop a free fall if the parachute has long been full of holes.
