Business news from Ukraine

Business news from Ukraine

Ukraine plans for 2023 to attract $37.9 billion to finance the budget deficit and $13.6 billion for recovery

22 September , 2022  

The government of Ukraine plans to attract $37.9 billion to finance the state budget deficit and $13.6 billion for restoration, the largest contribution is expected – $18 billion and $6.5 billion respectively – from the United States through USAID, such data are given in the presentation of the project state budget-2023.

According to information on the website of the Ministry of Finance, it is assumed that assistance from the United States will be monthly: for the budget – $1.5 billion, and for recovery – from $0.4 billion to $0.6 billion.

The second most important source of budget financing in the presentation is the IMF – $ 15 billion: $ 2 billion each in January, February and September, $ 1.6 billion in June, $ 0.6 billion – in August and from $ 0.8 to 1.1 billion – in the rest months.

As for macro-financial assistance from the EU and other sources, it is expected to be restored in the amount of $7.1 billion – monthly at $0.6 billion, except for $0.5 billion in December. While state budget funding from this source is projected at $4.9 billion: $1.9 billion in the first quarter, $1.3 billion in the second, $0.2 billion in the third and $1.3 billion in the fourth.

Finance Minister Serhiy Marchenko specified that this year, as part of negotiations with international partners, Ukraine has already received $19 billion in financial support, of which almost 50% is grant funds.

“By the end of the year, we plan to raise about another $17 billion in additional funding,” he said, presenting the draft state budget in the Rada on Wednesday.

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