These funds will be used to cover important non-military budget expenditures, Szmigal said.
The Board of the International Monetary Fund has completed its fifth review of the Extended Fund Facility (EFF) for Ukraine, releasing approximately $1.1 billion in budget support for Ukraine. This was stated in the IMF release on Friday, October 18.
It was noted that the Ukrainian economy remains stable, and the implementation of the EFF program remains high, despite the difficult conditions. Ukrainian authorities met all quantitative performance criteria by the end of June and completed four structural benchmarks.
The IMF added that in order to ensure macroeconomic stability, restore the sustainability of public finances and debt obligations, and strengthen institutional reforms, it is necessary to maintain continued momentum for reforms, improve the mobilization of domestic revenues and the timely foreign aid flow.
According to Prime Minister Denis Shmygal, these funds will be used to cover non-military expenses.
“During the revision, the tranche schedule for 2025 was also optimized, thanks to which we can attract more resources to the state budget,” he said.
We remind you that earlier the IMF published an updated memorandum on Ukraine, the fulfillment of the conditions of which will determine additional support for our state.
Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.