Ukraine has pushed back against hedge funds' demands regarding debt restructuring, stating that its proposal to exchange $3. 2 billion in GDP warrants is the best possible solution. The Ministry of Finance of Ukraine is confident in its proposal, which is intended to restore the sustainability of public debt.
Political scientist Oleh Posternak in an op-ed for UNN on the possible consequences of Andriy Yermak's resignation for NBU Governor Andriy Pyshnyi and Investment Capital Ukraine.
IDPs from temporarily occupied territories who have a combatant certificate can apply for a housing voucher worth over UAH 2 million as early as next month.
Ukrainian banks increased deductions to reserves in the third quarter of 2025 from UAH 1. 1 billion to UAH 2.3 billion. This is due to an increase in lending and a decrease in the quality of certain loans.
SWIFT is fully transitioning to the digital standard ISO 20022 CBPR+, which will synchronize the banking systems of 11,000 financial institutions. This update will enable international transfers in a single digital format, compatible with blockchains and CBDCs.
The Ministry of Finance proposes to postpone the introduction of the electronic excise tax stamp and the Electronic System for the Circulation of Excise Goods to November 2026. This is due to the need for additional market preparation and minimizing risks for businesses.
In October 2025, the Ministry of Finance of Ukraine raised UAH 64. 7 billion for the state budget by placing domestic government bonds. Of this amount, UAH 49.9 billion accounts for hryvnia bonds, and USD 355 million for foreign currency bonds.
The Verkhovna Rada adopted the draft budget for 2026 in the first reading, instructing the Cabinet of Ministers to consider extending tax benefits for electric cars. Experts predict a 40% increase in the price of electric vehicles and a 30% market decline if the benefits are canceled.
Ukraine received 46. 1 million euros in loan funds from the European Investment Bank for four projects to support urban development. The funds were transferred to the special fund of the state budget and are intended for the reconstruction of water supply, sewerage, energy efficiency, and the purchase of public transport.
Ukraine will receive the first financial proceeds from Japan from the revenues of frozen Russian assets in early 2026. This is part of the G7 countries' ERA mechanism worth $50 billion, which will go to finance the state budget expenditures.
Acting Head of the State Tax Service, Lesia Karnaukh, stated that legislative initiatives to increase VAT, personal income tax, and corporate income tax are not currently being considered. This is a positive signal for businesses, although the issue of shadow economy remains open.
Ahead of October, Naftogaz accumulated $2. 5 billion for gas purchases, of which $1.5 billion was provided by partners. Europeans also provided Ukraine with a credit guarantee, which is a historic event.
The European Bank for Reconstruction and Development is considering providing Ukraine with additional funding for gas purchases. This will help ensure the smooth passage of the 2025-2026 heating season, especially after Russia's intensified attacks on the energy system.
Secretary of the National Security and Defense Council Rustem Umerov announced a technology stake that will focus on increasing funding for arms procurement. One of the tools will be controlled arms exports, which should fill the budget for defense procurement.
The NBU Board discussed with the heads of Ukraine's 30 largest banks expectations regarding a new program with the IMF. NBU Governor Andriy Pyshnyy emphasized the need to develop a new program design to ensure regular inflows of external financing and to take into account Ukraine's European integration movement.
Yulia Svyrydenko responded to a petition on regulating the activities of realtors, instructing relevant agencies to work on the issue. This could increase transparency in the real estate market and protect consumer rights.
People's Deputy Fedir Venislavsky explained that the new law allowing men under 22 to travel abroad does not affect mobilization, as the mobilization age starts at 25. He noted that this creates opportunities for obtaining education and experience abroad, which is beneficial for Ukraine's post-war reconstruction.
People's Deputy Fedir Venislavsky explained the purpose of the UAH 200 billion defense reserve in the state budget. The funds will be used to finance the most urgent technological and material needs of defense, and their sources have been agreed upon with the Ministry of Finance and the relevant department.
The Verkhovna Rada Committee on Finance, Tax and Customs Policy supported bill 14023. The document simplifies the processing of primary documents for the provision of services, canceling the customer's signature for cashless payments.
The International Monetary Fund has convinced the Ukrainian government to significantly increase its forecast for additional financing that the country will need by the end of 2027, from $38 billion to $65 billion. This is due to Russia's protracted invasion and the need to finance military operations.
Minister of Finance Serhiy Marchenko announced a revision of the subsistence minimum, which currently stands at 3209 hryvnias. It will be modernized and unlinked from inappropriate surcharges.
The Verkhovna Rada Committee on Budget heard a presentation from the Ministry of Finance regarding the draft State Budget of Ukraine for 2026. The Budget will be presented to the Rada on September 19, after which deputies will submit amendments until October 1.
In the 2026 state budget, expenditures for the National Academy of Medical Sciences, the Ministry of Energy, and the Ministry of Community Development significantly increased. At the same time, expenditures for the State Property Fund, the State Space Agency, and the Ministry of Defense were reduced.
State budget expenditures for 2026 are planned at UAH 4. 8 trillion, which is three times the pre-war level. The largest expenditure item is national security and defense, for which UAH 2.8 trillion has been allocated.
The Cabinet of Ministers plans to gradually increase teachers' salaries by 50% in 2026, which entails allocating UAH 183. 9 billion. In total, UAH 265.4 billion is provided for education in 2026, which is UAH 66.5 billion more than this year.
In 2026, the Cabinet of Ministers plans to increase defense spending by almost UAH 170 billion, to UAH 2. 8 trillion, which will amount to 27.2% of GDP. The focus continues to be on financing the domestic defense-industrial complex, in particular on the production of ammunition and missile weapons.
The Cabinet of Ministers approved the draft State Budget for 2026. The document envisages expenditures of UAH 4.8 trillion and revenues of UAH 2.826 trillion.
The IMF believes that Ukraine's financing needs over the next two years could exceed government estimates by up to $20 billion. This will complicate negotiations for a new aid package.
The Ministry of Finance, the NBU, and the IMF discussed the implementation of the EFF program and budget plans. The IMF noted the effectiveness of Ukraine's work, and Serhiy Marchenko thanked them for their support.
The eExcise system, which will track the circulation of excisable goods, is entering the final stage of development. A full transition is expected from November 2026, giving businesses 10 months to adapt.
