History of the Institute

Homepage / About the institute / History of the Institute

update date 27.02.2025

State Organization "Institute for Economics and Forecasting of the National Academy of Sciences of Ukraine" (SO "IEF NAS of Ukraine") has been operating since 1997.

The Institute’s mission consists in scientific support of the development of strategic forecasts and programs for Ukraine’s socio-economic development.

The Institute works to build a developed, modern, resilient to threats and geopolitical challenges, environmentally friendly and inclusive economy on an endogenous basis, with the involvement of the latest scientific and technological achievements - both national and foreign ones, to ensure the consolidation of society and the national perspective.

The Institute was established at the end of the 20th century in response to the demands of the time, that is the formation of a national economy on a market basis. The very name of the new research institution - The Institute of Economic Forecasting of the NAS of Ukraine - implied the importance not only of future economic reforms, but also of the consequences of government’s decisions based on new methodologies and tools. At the proposal of the National Academy of Sciences of Ukraine and the Ministry of Science and Technology, supported by the Ministry of Economy, the decision to establish the Institute of Economic Forecasting of the NAS of Ukraine was adopted in 1997 by the Cabinet of Ministers of Ukraine (Resolution of the Cabinet of Ministers of Ukraine "On the Creation of the Institute of Economic Forecasting" of July 19, 1997 No. 772 and Resolution of the Presidium of the National Academy of Sciences of Ukraine "On the Creation of the Institute of Economic Forecasting" of September 5, 1997 No. 298)

The main areas of the Institute’s activities at the time of its establishment included the following

analysis and forecast of the state of Ukraine's economy during the period of development of its statehood and the emergence of a new economic model
solving the problems related to social and market reforms
scientific substantiation of ways and the elaboration of the tools of macroeconomic stabilization policy and economic growth policy in conditions of economic instability

During 1997-2004, among the key areas of the Institute’s research team were vital issues of the formation and development of the national economy, which determine the economic sovereignty of the state and its prospects

institutional changes and development of forms of economic management
modeling and forecasting of economic development (on a multi-term basis, that is, in the short, medium and long term)
economic growth and structural changes in the economy
sectoral forecasts and analysis of market conditions
technological forecasting and innovation policy
financial forecasting
development of foreign economic activities
international integration strategy
economic theory of social transformations

In 2005, the Institute’s field significantly expanded. It was renamed State Organization "Institute for Economics and Forecasting of the National Academy of Sciences of Ukraine" (Resolution of the Presidium of the NAS of Ukraine of 06.07.2005 No. 139). Since then, its research area has been supplemented with various important and promising items such as:

financial and monetary regulation
research into the development and regulation of financial markets
competition policy and forecasting of industrial potential
economics and policy of agrarian reforms
forms and methods of management in the agro-industrial complex
monitoring studies of socio-economic changes in the Ukrainian society
economic history
socio-economic problems of labor

Over the past two decades, the Institute’s structure has undergone various changes that correspond to the modern focus of economic and forecasting research and public demands. The existing research units were reformatted and new ones were created - those dealing with energy and climate economics, infrastructure development, trade and industrial policy, and international financial research, socioeconomics of labor. Today, State Organization "Institute for Economics and Forecasting of the National Academy of Sciences of Ukraine" is a leading research institution in the field of economics.

The Institute performs another socially important function - training of highly qualified scientific personnel through its postgraduate and doctoral departments. A significant number of postgraduate and doctoral graduates continue their scientific career within the Institute today as PhDs and Doctors of Economics. In total, the team of scientists presently includes 50 Doctors and 74 PhDs. Among our researchers are 5 Academicians of the National Academy of Sciences of Ukraine, 4 Corresponding Members of the National Academy of Sciences of Ukraine, and 2 Corresponding Members of the National Academy of Agrarian Sciences of Ukraine.

Since the establishment of the Institute, it has been headed by Academician of the National Academy of Sciences of Ukraine Valeriy Heyets