"It does not mean that there is no problem": Marchenko explained where the budget lacks funds following the EU statement
Kyiv • UNN
By the end of the year, Ukraine needs to receive $29.5 billion from its partners for non-military expenditures. The EU guarantees €17 billion for defense, but the additional need amounts to $27 billion.
Following new statements from the EU regarding funding for Ukraine this year, Finance Minister Serhii Marchenko explained on October 3 what is happening with the budget deficit and funds from European partners, UNN writes.
Details
"In light of recent media reports citing statements by EU representatives, I consider it necessary to clarify several points regarding the budget situation as of today," the minister said on social media.
According to Marchenko, "it is worth separating the budgetary and military funding tracks."
"First. International financing for the needs of the state budget. These are funds that we use to cover non-military expenditures. By the end of the year, we urgently need to receive $29.5 billion from our partners (more than $3 billion of which was received yesterday). And we will receive it if we fulfill all the commitments agreed upon on our side. Parliament and the government will fulfill them jointly. Laws and resolutions. There will be no financing gap if we fully do our homework regarding our commitments," Marchenko stressed.
"Second. Guaranteed EU funds under the USL for defense needs (the purchase of weapons and drones). They are unconditional. That is, we will definitely receive them. As of today, €17 billion remains available for drawdown through the end of 2026. With regard to these funds, we agreed with the European Commission to accelerate work on the fastest possible approval of the requests submitted by Ukraine," the head of the Finance Ministry said.
"Third. In August 2026, the Ministry of Defense declared an additional defense need amounting to $27 billion (even after the full drawdown of funds under the USL. See point 2.). This week, together with representatives of the Ministry of Defense and the European Commission, we held meetings in Brussels where we discussed possible ways to cover this need. We developed a plan and presented our vision, but this does not mean that the problem does not exist," Marchenko stressed.
He noted that "through internal resources, Ukraine will cover more than $7 billion of this need. This involves savings and the redistribution of expenditures." "We expect to find a solution for another approximately $12 billion through joint efforts," the minister said.
The remaining funds are a critical need, and we are working jointly with the Ministry of Defense to determine the source of coverage. The European Commission will not be able to cover it due to the lack of appropriate instruments on its part this year
"We continue working around the clock with our partners to ensure all the needs of the Ukrainian budget. We will provide updates on progress," the minister said.