Ministry of Finance of Ukraine

The Cabinet of Ministers adopted a resolution to improve the accounting of suspicious debts in state monopolies and enterprises with net income of more than UAH 50 million.

In January-April 2024, the state budget allocated more than UAH 554 billion, or 58. 6% of the total expenditures, for the security and defense sector, which were spent, in particular, on salaries for military personnel and the purchase of equipment.

President of Ukraine Volodymyr Zelenskyy met in Kharkiv to discuss the operational situation, winterization, restoration of damaged infrastructure and housing for IDPs amid intense fighting in the region.

In 2024, Ukraine expects to attract three more tranches totaling $4. 5 billion under the IMF's Extended Fund Facility (EFF) program, in addition to the $880 million already received after the successful third review in March 2024.

The Ministry of Finance is drafting a bill to increase the military tax and value-added tax (VAT), as well as to introduce a military tax for individual entrepreneurs.

In April, 1,130 loan agreements worth more than UAH 4. 3 billion were concluded under state guarantees on a portfolio basis, of which UAH 2.4 billion was guaranteed by the state.

The Minister of Finance of Ukraine Sergii Marchenko discussed with the G7 ambassadors the government's reform of civil servants' remuneration based on job classification aimed at ensuring predictability, transparency and decent salaries to attract professionals to work in government agencies.

Due to delays in the delivery of military equipment, defense spending is growing significantly, which could potentially lead to a budget revision to provide additional funding for the security and defense sector.

Kyiv fulfilled the first five indicators of Ukraine's Plan for Reforms in Public Finance Management, Anti-Corruption and Business Environment in the first quarter of 2024, which allowed it to attract €6 billion in transitional financing.

As of March 31, 2024, Ukraine's public and publicly guaranteed debt amounted to UAH 5,924. 3 billion, of which 71.6% was external and 28.4% was domestic, with the weighted average cost decreasing by 1.4 times and the average maturity increasing by 1.6 times since 2022.

Since the beginning of the full-scale invasion in Ukraine, 53,212 loans totaling UAH 213. 2 billion have been granted to entrepreneurs, with state-owned banks providing 39,700 loans worth UAH 108.4 billion.

The Cabinet of Ministers held a meeting to prepare for the supply of generators to critical infrastructure facilities for the next heating season, which will help decentralize the energy system and make it less vulnerable to Russian attacks.

In 2023, the Ukrainian government implemented the state budget under martial law, but did not allocate all possible resources to finance measures to repel Russia's armed aggression and eliminate its consequences, according to the analysis of the Accounting Chamber.

The Cabinet of Ministers is working on a draft law to create a Government Center that will be responsible for the quality of documents and consolidate the functions currently performed by four regulatory ministries.

Since the beginning of the year, Ukraine has attracted more than $12 billion in financial assistance, including a record $9 billion in March and €1. 5 billion in April under the Extended Fund Facility for Ukraine.

According to CASE Ukraine senior economist Volodymyr Dubrovsky, the draft law on the “white business club” proposed by Danylo Hetmantsev is aimed at dividing entrepreneurs and undermining their efforts to reform the tax system.

During the martial law period, entrepreneurs received 52,244 loans totaling UAH 208. 7 billion under the Affordable Loans 5-7-9% program.

Ukraine has received €1. 5 billion of the second tranche of funding from the EU and expects the third tranche of €1.89 billion to be disbursed soon.

The Verkhovna Rada of Ukraine has supported a draft law that abolishes all upward and downward coefficients to the rates of rent for the use of Ukraine's radio frequency resource.

The draft law proposes to abolish all upward and downward coefficients applied to the rates of rent for the use of radio frequency resources of Ukraine.

The Government has approved a review of state budget expenditures in 20 areas by 16 key spending units in 2024 to increase efficiency and reallocate funds to higher priority areas.

The Government ordered to reallocate UAH 5. 5 billion from public debt service to increase funding for the elimination of the consequences of Russian aggression and strengthen Ukraine's defense capabilities.

In the first three months of 2024, the state budget expenditures for the security and defense sector amounted to UAH 408. 2 billion, or 58.9% of the total general fund expenditures.

Ukraine and South Korea sign a framework agreement that will allow Ukraine to receive up to $2. 1 billion in loans from the South Korean Fund for Economic Development and Cooperation to implement priority projects in 2024-2029.

Since the start of Russia's full-scale invasion in February 2022, Ukraine has received $83. 7 billion in financial assistance from international partners.

Ukraine's Finance Minister met with U. S. officials to discuss Ukraine's estimated $37.2 billion state budget needs for 2024, the use of confiscated Russian assets to rebuild Ukraine, and assistance in restoring critical infrastructure damaged by Russian attacks.

The European Commission has approved the Ukraine Plan for 2024-2027, paving the way for regular and predictable EU support to help Ukraine meet its urgent budgetary needs, carry out recovery and reconstruction, and ensure macro-financial stability.

Since the beginning of 2024, nearly 7,000 entrepreneurs have received affordable loans worth UAH 27. 3 billion, with one in five loans issued to businesses operating in high-risk areas.

In 2024, Ukraine received $10. 2 billion in external financing from international partners, including the US, EU, Japan, Canada, IMF, UK, and Norway.

For the first time in Ukraine, free infertility treatment using assisted reproductive technologies has become available under the medical guarantees program, with UAH 1. 87 billion allocated for this purpose.