State budget
Volodymyr and Olena Zelenskyy will be in Canada from September 9 to 11. They will visit three cities and discuss defense, the economy, and energy.
Russia’s military spending has increased by 30%, while the budget deficit has risen by 40%. By the end of the year, Russia may need up to another $34.6 billion in borrowing.
Three dismissed members of the HCJ received a total of UAH 4. 974 million in payments. Before their resignation, they celebrated at an expensive Kyiv restaurant.
The government plans to adopt the necessary decisions by November 1 to enable Ukraine to access the funding. The Ukraine Support Loan package for 2026–2027 totals €90 billion.
Ukraine discussed the state of its finances and needs for the next two years with Germany, Britain and France. More resources are needed due to the intensification of attacks.
Ratcliffe failed to convince Putin to make concessions regarding Ukraine. After the visit, Russia intensified its strikes on civilian infrastructure.
The government allocated UAH 2. 3 billion for the reconstruction of Vyshneve following the July 6 attack. Earlier, it had promised to allocate UAH 3.04 billion.
The Finance Minister forecasts a budget deficit of up to $32. 6 billion and a possible postponement of non-military payments. He called on the EU to use Russian assets.
In August, Russia’s revenues from oil and gas fell to 424 billion rubles. At the same time, oil companies received 304.6 billion rubles in budget subsidies.
The Cabinet approved four draft laws to fulfill its obligations to the EU and the IMF. They concern VAT, transfer pricing, capital markets, and the High Anti-Corruption Court.
Due to the acute shortage of "air-to-air" missiles, Ukrainian F-16s sometimes rely solely on guns. Weapons supplies are being rationed.
Prime Minister Serhii Koretskyi met with the IMF mission in Kyiv. The parties assessed financing needs for 2026–2027 and the 2027 budget.
The EU approved €6. 1 billion in defense funding for Ukraine, including air defense. Member states also promised additional resources, but provided no details.
The 2027 budget plans to provide UAH 18. 5 billion for more than 1.5 million veterans. The government is also preparing housing, medical and rehabilitation programs.
Ukraine may receive up to $1. 66 billion from the IMF by the end of the year. The tranche depends on the adoption of laws and the fulfillment of structural benchmarks.
Zelenskyy criticized lawmakers for the failure to pass three laws that were supposed to unlock $4 billion in aid. He called for decisions to be adopted that would open up $30 billion in support.
The government is introducing strict budgetary spending cuts outside the defense sector. The UAH 70 billion saved will be directed to the needs of the Defense Forces.
In July, Russia’s 43 largest exporters sold $2. 2 billion worth of foreign currency - several times less than previously. This weakens the ruble and fuels inflation.
Budget needs are estimated at €175. 4 billion, of which €133 billion is for defense. Sources to cover the €23.5 billion deficit have not been confirmed.
The IMF mission, led by Gavin Gray, is assessing Ukraine’s reforms and the draft 2027 Budget. The negotiations are taking place במסגרת the EFF program.
The Server Killers group attacked Norway’s government services and caused a leak of budget data. The hackers linked the attack to support for Ukraine.
Yerevan is deepening ties with the EU and the US and preparing an application to join the EU. Russia retains influence through trade, energy, and its military base.
In 2026, the state will allocate UAH 100 million for joint science-and-business developments. The co-financing share will be 50–65%, and the projects will run for up to 18 months.
Russia cut most budget expenditures by 35%, leaving defense and social payments untouched. On August 24, the deficit reached 8.654 trillion rubles.
Prime Minister Serhii Koretskyi discussed Ukraine’s progress toward EU accession with Marta Kos. Kyiv is accelerating European integration bills and seeking funding.
Sweden, the Netherlands, Spain and Poland, among others, are calling on the European Commission to resume work on using more than €200 billion in Russian assets. Belgium fears legal and financial risks.
The EU is discussing assistance for Ukraine to cover a $27 billion defense budget shortfall. No decision has been made yet.
The hospital received funds from the National Health Service of Ukraine for services without the necessary equipment and specialists. The losses to the state budget exceeded UAH 15 million.
Zelenskyy and Luxembourg’s Prime Minister Frieden discussed Ukraine’s resilience in the autumn and winter, army funding, and the budget deficit. Luxembourg is ready to help.
Zelenskyy said that Ukraine’s defense industry needs to scale up the production of drones and long-range systems. The President called for creating protection against Russian ballistic missiles.