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Business budgets for 2027 based on an exchange rate of UAH 49 per US dollar

14/ 09/ 2026
  Businesses are planning for 2027 amid high security and economic risks. 98% of companies are factoring a scenario of continued war into their business plans for 2027, while the average UAH/US dollar exchange rate used by businesses for budgeting purposes is UAH 49 per US dollar. At the same time, companies continue to invest in development, social initiatives, and technology. These are the findings of the Business Forecast 2027 survey conducted by the European Business Association among its member companies. View the presentation Expectations regarding overall business performance in 2027 remain cautious. 39% of companies forecast a negative trend, while a further 34% do not expect any changes, and 27% anticipate positive dynamics. The war remains the key factor shaping business planning for 2027. 98% of respondents are factoring a scenario of continued war into their business plans. Under these conditions, companies are also preparing their budgets with currency risks in mind. An average exchange rate of UAH 49 per US dollar is being used by businesses in their financial planning for 2027. Revenue forecasts for 2027 are also cautious. In hryvnia terms, 53% of companies expect revenues to increase, 29% expect a decline, and 18% anticipate no change compared to the previous year. In US dollar terms, 41% forecast a decline in revenues, 36% expect growth, and 23% anticipate stability. A similar trend can be observed in physical volumes: 38% of companies expect volumes to decline, 35% anticipate growth, and 27% do not expect any changes. Despite cautious expectations, some businesses are planning new investments. 3% of companies intend to implement new large-scale investment projects in 2027, with the average expected value of such projects standing at around US$5 million. There is significantly greater willingness to finance social projects: 48% of companies plan to invest in social initiatives in 2027. On average, such investments are expected to account for around 4% of companies’ revenues. Technological transformation also remains among businesses’ priorities. 83% of companies plan to use artificial intelligence tools in 2027 to optimise processes or improve operational efficiency. This indicates that, amid limited resources and workforce challenges, businesses are increasingly seeking technological solutions to enhance productivity. At the same time, businesses expect the government to strengthen its efforts in areas that directly affect companies’ resilience and development opportunities. Key priorities for the Government in 2027: combating corruption – 58%; strengthening energy security to ensure resilience through the heating season – 40%; strengthening protection against enemy attacks – 35%. Anna Derevyanko. Executive Director of the European Business Association. Businesses are operating under increasing pressure from enemy attacks. It is therefore entirely understandable that companies identify protecting business assets and strengthening energy resilience among the Government′s top priorities. At the same time, the demand for tackling corruption remains at the top of the list. This is an important signal: even amid the war, businesses remain focused on systemic changes, without which the long-term development of the economy and the country′s recovery are impossible. For reference: The Business Forecast 2027 survey was completed by 88 executives of European Business Association member companies. The survey was conducted from 18 August to 7 September 2026. The EBA has been conducting its Business Forecast survey for the 11th consecutive year.

Businesses are planning for 2027 amid high security and economic risks. 98% of companies are factoring a scenario of continued war into their business plans for 2027, while the average UAH/US dollar exchange rate used by businesses for budgeting purposes is UAH 49 per US dollar. At the same time, companies continue to invest in development, social initiatives, and technology.

These are the findings of the Business Forecast 2027 survey conducted by the European Business Association among its member companies.

View the presentation

Expectations regarding overall business performance in 2027 remain cautious. 39% of companies forecast a negative trend, while a further 34% do not expect any changes, and 27% anticipate positive dynamics.

The war remains the key factor shaping business planning for 2027. 98% of respondents are factoring a scenario of continued war into their business plans.

Under these conditions, companies are also preparing their budgets with currency risks in mind. An average exchange rate of UAH 49 per US dollar is being used by businesses in their financial planning for 2027.

Revenue forecasts for 2027 are also cautious. In hryvnia terms, 53% of companies expect revenues to increase, 29% expect a decline, and 18% anticipate no change compared to the previous year. In US dollar terms, 41% forecast a decline in revenues, 36% expect growth, and 23% anticipate stability.

A similar trend can be observed in physical volumes: 38% of companies expect volumes to decline, 35% anticipate growth, and 27% do not expect any changes.

Despite cautious expectations, some businesses are planning new investments. 3% of companies intend to implement new large-scale investment projects in 2027, with the average expected value of such projects standing at around US$5 million.

There is significantly greater willingness to finance social projects: 48% of companies plan to invest in social initiatives in 2027. On average, such investments are expected to account for around 4% of companies’ revenues.

Technological transformation also remains among businesses’ priorities. 83% of companies plan to use artificial intelligence tools in 2027 to optimise processes or improve operational efficiency.

This indicates that, amid limited resources and workforce challenges, businesses are increasingly seeking technological solutions to enhance productivity.

At the same time, businesses expect the government to strengthen its efforts in areas that directly affect companies’ resilience and development opportunities.

Key priorities for the Government in 2027:

  • combating corruption – 58%;
  • strengthening energy security to ensure resilience through the heating season – 40%;
  • strengthening protection against enemy attacks – 35%.

Anna Derevyanko Executive Director of the European Business Association
Businesses are operating under increasing pressure from enemy attacks. It is therefore entirely understandable that companies identify protecting business assets and strengthening energy resilience among the Government′s top priorities. At the same time, the demand for tackling corruption remains at the top of the list. This is an important signal: even amid the war, businesses remain focused on systemic changes, without which the long-term development of the economy and the country′s recovery are impossible.

For reference:

The Business Forecast 2027 survey was completed by 88 executives of European Business Association member companies. The survey was conducted from 18 August to 7 September 2026. The EBA has been conducting its Business Forecast survey for the 11th consecutive year.

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