Ukraine expects $29.5 billion in Western support by year-end
Quick Look
Ukrainian Finance Minister Sergey Marchenko announced that Ukraine expects to receive $29.5 billion in Western financial aid by the end of the year to cover budget shortfalls, as the country faces a total deficit of approximately $57.4 billion.
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Why It Matters
Ukraine has been operating with record budget deficits for several years. The government reports that domestic resources are exhausted, necessitating external support.
MOSCOW, September 25. /TASS/. Ukraine expects to receive $29.5 bln from its Western partners by the end of the year under a number of support programs, RBC-Ukraine reported, citing Ukrainian Finance Minister Sergey Marchenko.
According to the report, the minister announced the figure at a meeting with journalists. Marchenko believes the funds should help prevent a budget shortfall, the agency added.
Ukraine has been running budgets with record deficits for several years. Kiev acknowledges that the country has completely exhausted its own resources and that finding additional funds is becoming increasingly difficult.
On September 18, Vladimir Zelensky said Ukraine faced an "astronomical deficit" of funds. According to the latest government data, Ukraineβs budget shortfall stands at around $57.4 bln.
Open Questions
- Which specific Western partners are providing the funds?
- What are the conditions attached to the aid?
