By KYIV. Dec 8 (Interfax-Ukraine) – Since the start of Russia’s full-scale military invasion, Ukraine has received $27 billion in external funding, and this amount is expected to rise to $30 billion by the end of the year, Finance Minister Serhiy Marchenko said on the air of the national telethon.
"The need for the ten months of the war is $50 billion. Partly we were helped by partners, partly we financed through internal borrowing, including through the monetization of financing by the National Bank of Ukraine," he said.
According to the Ministry of Finance, as of December 7, the total amount of external financing was $28.26 billion, of which $27.26 billion was for financing the budget deficit, and another $1 billion for recovery. Another $11.66 billion, or UAH 370 billion, was provided by the National Bank through the purchase of government bonds.
Marchenko pointed out that next year the state budget’s funding needs are estimated at $38 billion.
"Less compared to this year, but it all depends on how events develop on the military front … Own revenues are not enough even to meet the basic needs of security and defense ", said the minister.
According to him, in addition to EUR18 billion from the EU, Ukraine expects $9.9 billion from the U.S. for the nine months, as well as bilateral support from other G7 members, including the UK, Canada, Japan, with which negotiations are already underway, and the World Bank and the IMF.
In this regard, Marchenko emphasized the importance of creating "financial Ramstein" – not only as a political platform, but also as a platform for resolving operational issues – predictability and possible delays in funding.
"I can’t say about the exact dates, but negotiations are underway, quite actively, meetings (are held) at the working level once every two weeks," he described the current situation in creating such a format.
Commenting on the blocking by Hungary of the decision on the allocation of EUR18 billion by the European Union to Ukraine next year, Marchenko called this news "unpleasant, but no more."
"I think that the EU will find ways to resolve this issue. We have already received signals that there are several steps on how to do this, so we don’t have much worries about this. I think everything should be in order," he said.
