#ukraine-finance

#ukraine-finance

When the first Ukrainian-designed drone to be made in a German factory rolled off the production line last month, Volodymyr Zelenskyy knew it marked a turning point for the economy. With drone-making joint ventures also well advanced in Finland and Denmark, war-torn Ukraine has shown how its businesses can adapt and break out of their bomb-threatened domestic confines, becoming more integrated into the EU's industrial network with each passing day.

It is pre-dawn in the historic Podil district of the Ukraine capital, Kyiv, and warm light from the Spelta bakery-bistro's window pierces the darkness outside. On a wooden surface dusted with flour, the baker Oleksandr Kutsenko skilfully divides and shapes soft, damp pieces of dough. As he shoves the first loaves into the oven, a sweet, delicate aroma of fresh bread fills the space.

Ukraine and its neighbor Moldova both experienced power outages on Saturday amid problems on Ukraine's grid, officials said. The grid emergency caused a halt to Kyiv's water supply and metro operations, while most districts in Moldova's capital, Chisinau, were without electricity, they said.

Technically, we will be ready in 2027, Zelenskyy told reporters, Reuters reported, adding that by the end of 2026 Ukraine will have implemented the main steps required for membership. I think the European Commission may have a slightly more nuanced view on that, given its last year's progress report pointing to some level of preparation in many areas, with only limited progress on some of the key issues, such as fight against corruption, or insufficient capacity in some areas looked at by the EU.

Serious damage has occurred with energy infrastructure. As a result, there have been disruptions to supplies of power, water and heating. Despite the chaos, officials believe nearly half of those affected could be reconnected to the electricity grid today, as teams work diligently to repair the damage.