It is becoming increasingly difficult for Ukraine to receive financial assistance from partner countries.
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Now the authorities have to make twice as much effort to convince partners to provide support. It was easier to do this before. Ukrainian Finance Minister Sergei Marchenko stated this in an interview with Reuters during a World Bank meeting in Marrakesh.
I see great fatigue among our partners, they wanted to forget about the war, but the war is still going on, full-scale,” he noted.
According to him, Ukraine needs to receive financial support from the West to cover the budget deficit of $43 billion. in 2024. However, this week’s talks were overshadowed by the conflict between Israel and Hamas. Some foreign governments, due to geopolitical changes and domestic political contexts in countries, are reducing the governments’ willingness to support Ukraine. Marchenko added that in 2014 elections will be held in the USA and the EU.
The minister added that Ukraine has secured additional tax revenues and funds that will be raised from internal debt. However, it will also depend on external assistance for most of its spending in 2024.
Let us recall that the IMF stated that the resumption of global economic growth had slowed significantly due to the shock of Russia’s war against Ukraine. Experts predict that this weak performance will continue, with global growth at around 3% over the medium term.
Source: Racurs
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.