Ukraine may receive 16 billion euros of financial support from the EU this year - Ministry of Finance
Kyiv • UNN
International partners have assured Ukraine of further financial support for the implementation of the 2024 budget, while the EU is expected to provide the largest assistance in the amount of 16 billion euros, provided that Ukraine fulfills its obligations under the financing plan for Ukraine.
International partners assured of further financial support for Ukraine in the implementation of the 2024 budget. this was stated in the Ministry of Finance of Ukraine following the meeting of the EU Council on economic and financial issues, reports UNN.
Details
The meeting, where the head of the Ukrainian Ministry of Finance Serhiy Marchenko spoke, was joined by the ministers of economy and finance of the European Union member states, as well as representatives of EU institutions.
Among the topics discussed are the financial and economic situation in Ukraine, policies and measures implemented by the Government of Ukraine to join the EU and fulfill the conditions of the Ukraine plan within the framework of the Ukraine Facility tool for 2024-2027.
Serhiy Marchenko thanked his European colleagues for their support from the start of the full-scale invasion. According to him, The European Union is the largest donor of direct budget assistance since February 2022.
In the first five months of this year, financial support from the EU accounts for more than half of all funds raised. This assistance is an important element that keeps the financial system stable. I am grateful for understanding the needs of Ukraine and making the necessary decisions quickly. Expanding cooperation with the EU and full integration are the absolute priorities of the government of Ukraine
The Ministry of Finance stated that financial support from international partners and reforms of Ukraine to increase domestic revenues will ensure priority expenditures of the state budget in full.
It is expected that the financial assistance from the EU will be the largest in terms of volume and will reach 16 billion euros in 2024, provided that Ukraine fulfills the indicators of the Ukraine Plan
Addition
It is noted that Ukraine and international donors are actively working to meet the priority needs of Ukraine in 2025. The finance minister noted the medium-term nature of the EU instrument Ukraine Facility, which provides support for 2024-2027.
According to him, the Ministry of Finance of Ukraine has the opportunity to properly plan the implementation of the state budget for the next years. In 2025, the instrument provides 15.2 billion euros of assistance to Ukraine, of which 12.5 billion euros are budget support.
Separately, Serhiy Marchenko thanked the EU for supporting the G7's decision to send about 5 50 billion to Ukraine at the expense of future profits received from Frozen sovereign Russian assets. This step will provide Ukraine with the necessary resources in 2025.
He explained that Ukraine continues its systematic work on implementing reforms. In particular, to maximize the effectiveness of this process, the government has prepared and presented a reform Matrix. this is an analytical tool that covers all the conditions and recommendations of Ukraine's international partners.
Recall
Deputy Prime Minister-Minister of economy of Ukraine Yulia Sviridenko said that since the beginning of the war, as of June 1, the state budget of Ukraine has attracted 8 85.4 billion. Already this month, Ukraine expects to receive 1.9 billion euros under the Ukraine Facility
