Ukraine has more than UAH 126 billion in its treasury account as of March 3, as well as $40.3 billion in foreign exchange reserves, Ukrainian Prime Minister Denys Shmyhal said.
“The treasury account includes foreign currency funds. In fact, the budget execution for the first two months is more than UAH 2 billion plus, that is, we are filling our budget for both January and February, and both customs and tax authorities have fulfilled the plan,” he said at a briefing in Kyiv on Tuesday.
Shmyhal clarified that he reported this information on the sufficiency of financial resources and the possibility of financing the $38 billion budget deficit in 2025 at the rate of the Supreme Commander-in-Chief.
He reminded that Ukraine has recently passed the seventh review of the IMF program and will receive a tranche of $0.4 billion, which was reduced from the previously agreed $0.9 billion precisely because of the availability of sufficient resources and the desire to receive this money later.
“All other instruments are actually concentrated around the IMF program: Ukraine Facility from the European Union, under which we will receive EUR 12.5 billion this year. Also, the infrastructure of the $50 billion ERA loan (proceeds from frozen assets of the Russian Federation – IF-U) is actually locked around this program: Europe will give us EUR18 billion in the form of a macrofinance this year,” the Prime Minister said.
He added that the agreement signed with the participation of the President on March 1 with the United Kingdom will bring in more than $3 billion.
“We also have Japan and Canada ahead of us with their contributions to the ERA program. We are also working with the World Bank, the EBRD, other financial partners, and other countries. These are the Nordics, the Baltic countries, European countries, which also make smaller contributions, but we will receive from 100 to 300 to 500 million euros from other partners this year. All of this adds up to the budget deficit we have,” Shmyhal explained.
