Tuesday, March 14, 2023
Ukraine is confident that the International Monetary Fund will help cover part of the state budget deficit this year. Around $5B is expected to be received, said Oleksiy Ustenko, a member of the Parliamentary Committee on Finance. According to him, Ukraine has the highest recorded budget deficit for all the years of its independence. To close it, €18B will be provided by the EU, $10B will come from the US and $5B is expected from the IMF, and the additional $5B will be sourced through partner countries and international financial institutions. Ustenko notes that Ukraine had problems with its budget last year, but Ukraine’s allies helped it to survive those challenging times. Ustenko also clarified that it is currently difficult to predict the development of the economic situation in the country, as the war is ongoing.