IEF (State organization “Institute for economics and forecasting, Ukrainian National academy of sciences”) is an academic (public) research organisation, established 1997 in accordance with Decree of Ukraine’s government (19.07.1997 №772) and the corresponding Decree by the Presidium of the Ukrainian National Academy of Sciences (05.09.1997 №298) with the aim to ensure the elaboration of strategic forecasts and programs of Ukraine’s socio-economic development.

The Institute’s main task is conducting fundamental and applied research and developing, on that basis, guidelines and methods of development of the economic system, as well as making strategic forecasts and programs for the development of Ukraine’s economy.

One of the key activities of IEF is to contribute to R&D policy making and knowledge-based economy development.

During many years the Institute’s international partners are the International Institute for Applied Systems Research (Austria), Institute of Economics, Bulgarian Academy of Sciences, Independent expert group "Consensus Economics Inc." (UK), German Institute for Economic Research, Institute of Rational Use of Energy of Stuttgart University (Germany), Lodz University (Poland), Institute of Economic Forecasting (Russian Academy of Sciences), Institute of World Economy (Hungarian Academy of Sciences), Institute of National Economy (Romanian Academy of Sciences), Institute of Economic Research (Kazakhstan Academy of Sciences), Ministry of Economy, Industry and Finances and University Paris-Nanterre (France).

The forecasts of economic development of individual countries and regions prepared twice a year by the UN LINK Project include mid-term (5-8 years) forecasts for Ukraine made by the Institute’s researchers, and the Development Forecasts of European and Transition Economies prepared by "Consensus Economics Inc." every two months including forecasts for Ukraine for next two years made by the Institute’s researchers.

In 2008 the director of the IEF took part on the second session of Team of Specialists on Innovations and Competitiveness Policies UNECE in Geneva.

A number of joint research projects in the field of agroeconomics, innovation and technology cooperation were conducted in cooperation with the institutes of Russian Academy of Sciences.