Ukraine’s Ministry of Finance hopes to receive $3.3 bln from USA in 2023, $12-14 billion in 2024 – minister

Economy

13:02, 11.09.2023

2 min read

Ukraine’s Ministry of Finance hopes that the interim U.S. budget is approved shortly and Ukraine would receive another $3.3 billion by the end of this year to cover the Ukrainian state budget deficit, Finance Minister Serhiy Marchenko has said.

On the sidelines of the meeting of the European Business Association “EBA Global Outlook: ‘New Economy’ of Ukraine” in Kyiv on Monday, he said that in 2024, the Ministry of Finance would like to receive funding from the United States for the state budget at the level of this year.

“No less than this year: somewhere from $12 billion to $14 billion. This is what we are developing,” the minister said.

However, according to him, there is still a lot of uncertainty on this issue.

“We hope that, both in 2023 and in 2024, the United States will be with us,” said Marchenko, speaking to the association.

He reiterated that the 2024 state budget expenses will not be lower than this year, including on defense, which means that external financing is needed at a level not lower than this year – $42 billion.

The minister of finance recalled that, in addition to the United States, there would be assistance from the EU, the IMF, and individual countries – Japan, Canada, the United Kingdom, and possibly Norway.

“All this gives us the right to say that we can potentially finance next year’s budget,” Marchenko said.

As reported, this year, the United States provided $8.5 billion in grants to Ukraine, while last year it was $12 billion.

Total state budget funding this year reached $29.7 billion as of September 5, compared to $32.1 billion for the entire year of 2022.

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