Marchenko said the $5 billion monthly deficit was never fully funded.
Finance Minister Sergei Marchenko said the total amount of concessional financing Ukraine has attracted since the start of the war is nearly $18 billion. However, the $5 billion monthly deficit was never fully funded. He said this while speaking online with a speech at the International Monetary Conference 2022, the press service of the Ministry of Finance reports.
According to Marchenko, Ukraine’s funding needs include not only direct budget support, but also funding for the reconstruction of thousands of liberated towns and villages, the restoration of damaged roads, bridges, school, equipment, and so on.
He noted that the government and the World Bank prepared and presented last week the first quantitative assessment of losses caused by Russia.
Over the next 18-36 months, to meet the most pressing needs, Ukraine needs about $105 billion to prepare for the coming winter, fix critical transportation, support the next planting season, social, demining.
“We are trying to ensure all priority expenses by attracting mostly concessional financing and grants. The latter is very important for us not to increase the debt burden,” said the minister.
Recall that in August Ukraine received $4.6 billion in financial aid, which is a record figure since the beginning of the war.
It also reported that since May, Ukraine has received only one billion euros out of the nine promised by the European Union.
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Source: korrespondent
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.