Shmyhal convenes emergency meeting due to budget 'uncertainty' - Bloomberg
Kyiv • UNN
The Prime Minister of Ukraine seeks to convene an emergency meeting with donors due to uncertainty over the 2024 budget.
Ukrainian Prime Minister Denys Shmyhal has requested an emergency meeting with international donors as Ukraine faces "extremely high uncertainty" about its 2024 budget. This is what Bloomberg writes, UNN reports.
Details
The publication refers to a letter from the Ukrainian Prime Minister to the Interagency Donor Coordination Platform (MDCP). According to Bloomberg, it states that funding is needed in January and should be directed to budgetary needs.
In the letter, Prime Minister Denys Shmyhal said that funding is needed next month and should be directed to the basic needs of the Ukrainian budget. The message reinforces Ukraine's request, that more than $110 billion in financial aid has been delayed due to political due to the political struggle in the United States and the European Union.
To maintain macroeconomic stability it is crucial that we receive sufficient, prompt and predictable external financing from January 2024 onwards
Last week, the Ministry of Finance of Ukraine announced that its financing needs for 2024 amount to $37.3 billion after receiving more than $42 billion in foreign aid in 2023.
We cannot wait until March to to finance our social needs
Ukraine's budget may be shortfall in the first two months of next year, according to the first two months of next year, Finance Minister Serhiy Marchenko said earlier this month. Finance Minister Sergiy Marchenko said earlier this month.
It is unclear how the recipients reacted to the the letter and whether they agreed to the meeting earlier.