Due to the failure to fulfill international obligations, Ukraine has already received $29.5 billion less than expected. In addition, as of August, Ukraine’s security and defense sector had a funding shortfall. Finance Minister of Ukraine Serhii Marchenko said this during a session of the Verkhovna Rada, reports UNN.
Details
We all need to understand that the continuation of the war requires more and more resources. The cost of the war increases every year. If in 2022 the defense sector’s needs amounted to $105 billion, defense spending now stands at $155 billion. Against the backdrop of the intensification of hostilities, the security and defense forces’ sectors had, as of August, recorded an underfunding of $27 billion through the end of the year. This was caused by the fact that partners failed to provide bilateral assistance, and we are now actively seeking solutions. At the same time, as a result of the failure to fulfill the international obligations undertaken, we have already received $29.5 billion less than expected
According to the minister, this amount still needs to be adjusted to take into account the latest tranches. At the same time, he noted that the amount of funds expected to arrive by the end of the year remains “extremely large.”
And this is now a question of Ukraine’s survival, and it is about all of us understanding how critical this is right now. We still have—and currently have—sufficient opportunities to catch up and fulfill the reforms and obligations facing Parliament and the government
We would like to remind you
The draft State Budget of Ukraine for 2027 allocated more than UAH 1.5 trillion in external borrowings, although potential lenders have not yet been identified.