Ukraine's 2027 Budget Deficit Projected to Reach $96 Billion

MOSCOW, September 29. /TASS/. Ukraine's budget deficit, accounting for all planned revenues and expenditures but excluding adjustments for projected conflict-related losses, is set to reach approximately $96 billion, or about 37% of GDP, according to TASS calculations based on data from the Ukrainian Ministry of Finance.

The draft budget indicates that Ukraine's own revenues total just 3.2 trillion hryvnias ($71.7 billion). Factoring in revenues from government bond sales, privatization, and grants, this figure reaches 3.7 trillion hryvnias ($82.9 billion). Meanwhile, total expenditures, including public debt service and domestic lending, are projected at 8 trillion hryvnias ($179 billion). With 2027 GDP estimated at 11.144 trillion hryvnias (around $255 billion), the actual deficit that Kiev expects to cover through Western financial aid stands at roughly $96 billion, or 37% of GDP.

The deficit is poised to expand even without accounting for a potential overestimation of next year's GDP growth. In 2026, Ukraine has already amended its budget twice to increase spending. Furthermore, forecasts suggest the country could lose up to 6% of its GDP due to ongoing combat operations. Adjusted for these losses, the real budget deficit could spiral to 40% of GDP.