Ministry of Finance of Ukraine

The Ministry of Defense of Ukraine has established an Audit Committee composed of certified internal auditors from NATO and Ukraine to strengthen internal audit functions, maintain public trust and implement the highest international standards in the ministry.

If the blockade on the border with Poland continues, Ukraine could lose up to $400 million annually due to reduced exports and lower budget revenues.

The National Bank of Ukraine has strengthened the official hryvnia exchange rate against the US dollar by 13 kopecks to 39. 1953 UAH/USD.

Ukraine's public and publicly guaranteed debt reached UAH 5. 49 trillion, or USD 143.69 billion, as of early March, of which 69.67% was external debt and 30.33% was domestic debt.

Ukraine has received $118 million in grants from Japan under the World Bank's HEAL and HOPE projects to support the state budget, health care system, and housing repairs.

Starting April 1, Ukraine will increase minimum wages and pensions, increase payments to children of fallen Ukrainian defenders, increase the cost of issuing a foreign passport, and reduce the number of vacant civil servants by more than 19,000.

Ukraine has received a $1. 5 billion loan from Japan and the United Kingdom through the World Bank to support key state budget priorities in the face of full-scale Russian aggression.

Any increase in fiscal pressure on business is unjustified and harmful, as it will impose significant costs on business, while additional revenues to the state budget will be minimal, said the president of the All-Ukrainian Professional Association of Entrepreneurs.

President Zelenskyy announces an increase in funding for Ukraine's Foreign Intelligence Service to counter Russian challenges and expand its operational capabilities.

Starting from 1 April 2024, the minimum wage in Ukraine will increase to UAH 8,000, which will result in an increase in various employment-related compensation payments in line with the minimum wage.

Ukraine will receive a €100 million loan from the Council of Europe Development Bank to compensate for property destroyed during the Russian invasion by issuing housing certificates to more than 2,000 recipients.

The World Bank has approved a $1. 5 billion loan to Ukraine to help restore the economy, finance priority social and humanitarian expenditures, and implement reforms aimed at European integration and economic growth.

The government has approved a bill to restore medium-term budget planning for local communities, especially in the areas affected by military operations, which will allow them to forecast budgets for several years ahead and attract funding for economic development and social support.

The Ministry of Finance has published an analytical dashboard for monitoring salaries and the number of employees of state institutions, which aims to ensure the efficient use of state budget funds and make the remuneration of civil servants more transparent and fair.

Japan has allocated $230 million to support Ukraine's agricultural sector as part of a project aimed at restoring agriculture and providing access to finance for farmers.

Last week, entrepreneurs received 600 soft loans worth UAH 2. 1 billion under the government program "Affordable Loans at 5-7-9%".

The government approved a draft law to gradually increase excise tax rates on fuel and alcoholic beverages to the EU minimum levels, with an expected additional UAH 1. 6 billion per month from fuel sales and UAH 4.5 million per month from intermediate products in 2024, aimed at supporting the country's security and defense sector.

Ukraine will soon receive $880 million from the IMF after the successful completion of the third review of the Extended Fund Facility program, paving the way for the fourth tranche of funding.

The government plans to reduce the number of vacant positions in government agencies by almost 19,300 to cut costs and prevent overstated salaries due to excessive vacancies.

The government plans to adopt a bill to increase excise taxes on tobacco products, which should come into effect on July 1, 2024, and gradually increase to the EU minimum level by 2028.

Ukraine and the European Union have signed an agreement to provide €6 billion in soft loans to Ukraine, of which €4. 5 billion will be disbursed in March and the remaining €1.5 billion in April 2024 after the reform indicators are met.

Ukraine has a clear plan of action and first results in accessing frozen Russian assets worth about €300 billion to finance the costs of recovery.

The Government of Ukraine raised over UAH 34 billion from the sale of domestic government bonds in January-February 2024, exceeding the redemption volume by more than UAH 20 billion.

Ukraine cut spending on lobbying in the United States by 93% to $367 thousand in 2023, compared to almost $5 million in the first year of the war with Russia.

The subordinates of the mayor of Vinnytsia, an ally of former Prime Minister Volodymyr Groysman, claim that they were carrying out some work at the lyceum to eliminate the consequences of the strike on the city.

In the first two months of 2024, Ukraine received $1. 2 billion in grants and concessional financing from international partners such as Japan, Norway, and Spain, with most of the funds going to social spending through World Bank projects.

The EU Council approves a four-year, €50 billion aid plan called the Ukraine Facility to support Ukraine's economic recovery.

Ukraine has received $760 million in grants from Japan and Norway under the World Bank's PEACE project.

It was reported that a lyceum damaged by a rocket attack in Vinnytsia in 2022 had been repaired, but an investigation revealed that no repairs had actually been made.

Ukraine's Finance Ministry has criticized the FATF for not blacklisting russia despite evidence of its sanctions violations and increased financial ties with Iran and North Korea.