Ukraine’s budget deficit in 2024 will not decrease compared to 2023, as military and security expenditures will not decrease. Serhiy Marchenko, Minister of Finance of Ukraine. knowledgeable In an interview with Bloomberg.
Kiev estimated the 2023 budget deficit at a record $39.9 billion. The deficit was closed thanks to financial assistance from the European Union and the International Monetary Fund (IMF).
In June, Marchenko in an interview with Politico declarationThat Ukraine’s budget deficit in 2024 will be “huge”. He then announced that Kiev would need the help of its partners, including the United States, to deal with this. Marchenko stated that even if the UAF counterattack is successful, the budget deficit will be at a record level.
Also in June, the European Commission announced its intention to provide budgetary financing to Ukraine for the period from 2024 to 2027. According to the EC’s plans, it will reach 50 billion euros over the entire period. So Brussels will allocate approximately € 1.04 billion per month to Kiev.
In Ukraine’s 2023 budget, expenditure of UAH 2.6 trillion was previously planned. At the current exchange rate, that’s $71.1 billion. Spending on security and military needs is estimated at 1.14 trillion hryvnia, or $31.2 billion. This is almost half of all costs – 43% (18.2% of GDP (the country’s gross domestic product)) expenditures of the Ministry of Defense 857, up from UAH 133.5 billion in 2023, or $3.65 billion a year ago. It is planned to be UAH 9 billion ($23.46 billion).
Previously it happened It is known how much Ukraine will receive from the IMF.