Shmyhal: Ukraine's treasury account has 126 billion UAH, foreign exchange reserves amount to $40.3 billion.
Kyiv • UNN
Ukraine's treasury account has 126 billion UAH, and foreign exchange reserves amount to $40.3 billion. The budget plan for January-February has been exceeded by 2 billion UAH, and the deficit of $38 billion is planned to be covered by international assistance.
As of yesterday, more than 126 billion hryvnias are in the single treasury account of Ukraine, and the gold and foreign exchange reserves amount to $40.3 billion. The budget execution for January-February exceeded the plan by more than 2 billion hryvnias.
This was stated by the Prime Minister of Ukraine Denys Shmyhal during a press conference, reports the correspondent UNN.
Details
Today we have the following indicators, the following parameters — more than 126 billion hryvnias in the treasury account as of yesterday, $40.3 billion in gold and foreign exchange reserves. In fact, the budget execution for the first two months plus more than 2 billion hryvnias
That is, we are filling our budget for both January and February. Both customs and the tax service have met their targets, for which I am extremely grateful to Ukrainian businesses. Because taxes are being paid in full and even with overperformance, this allows us to fully meet all the needs of our armed forces.
Shmyhal also reported that Ukraine successfully passed the seventh review of the IMF program and signed a staff-level agreement. This will allow for the receipt of another tranche of $0.4 billion. Shmyhal emphasized that the IMF program is key to Ukraine's financial support, as other international aid mechanisms are formed around it.
Among the main sources of revenue:
- The Ukraine Facility program from the EU – €12.5 billion;
- Macro-financial assistance from the EU – €18 billion in 2024;
- Financial support from the United Kingdom – over $3 billion;
- Funds under the 'Era' initiative – $50 billion;
- Future contributions from Japan, Canada, and other partners;
- Funding from the World Bank, EBRD, and European countries.
All of this cumulatively makes up the budget deficit that we have, and we understand how we will cover it
Regarding the budget deficit. This year we expect a budget deficit of $38 billion, but as of today, we clearly understand where this money will come from
Recall
According to the Ministry of Finance, 2.2 trillion UAH has been received into the general fund of the state budget in 2024, a significant portion of which consists of personal income tax and military tax.
Total revenues to the state budget reached 3.12 trillion UAH, while expenditures amounted to 4.48 trillion UAH.