4 days ago
Zelenskiy Says EU, IMF Will Help Finance Ukraine’s Budget Gap
Ukraine needs more money to pay for its war effort and other important government services.
President Volodymyr Zelenskiy said the European Union and International Monetary Fund understand this problem.
Ukraine is asking partners for an extra $27 billion this year for defence.
It says the war has become more expensive as both sides use more drones and missiles.
Zelenskiy said Ukraine needs to order drones soon so it does not face problems early next year.
Ukraine also uses foreign aid to pay for social and humanitarian programmes.
The country expects to need more than $52 billion in international aid next year.
An IMF team is expected to review Ukraine’s financing plans in November.
Ukraine is seeking an additional $27 billion from international partners this year for defence.
President Volodymyr Zelenskiy said the European Union and International Monetary Fund understand Ukraine’s financing needs.
Kyiv says it must order drones in October and November to avoid shortages early next year.
Ukraine expects to need more than $52 billion in international financial aid next year.
An IMF mission reviewing Ukraine’s financing programme is expected in November.
- Who
- Ukraine, President Volodymyr Zelenskiy, the European Union, the International Monetary Fund, and international partners.
- What
- Ukraine is seeking additional funding for defence, its budget deficit, and social and humanitarian spending.
- Where
- Kyiv, Ukraine; the fighting is taking place along a 1,200-kilometre front line.
- When
- Zelenskiy made the comments on Friday; an IMF financing-programme review is expected in November.
- Why
- Ukraine says the war has increased its defence costs and that it needs foreign support to finance its budget and public services.
Key facts
- Additional funding sought this year
- $27 billion from international partners for defence
- Expected aid needed next year
- More than $52 billion in international financial assistance
- Front line length
- 1,200 kilometres, or 745 miles
- Urgent defence purchases
- Ukraine says it needs to order drones in October and November
- IMF review
- A mission for the second review of Ukraine’s financing programme is expected in November
- European response
- Zelenskiy said he received a positive response from European Commission President Ursula von der Leyen
Quotes
Volodymyr Zelenskiy
President of Ukraine
“Everyone understands that Ukraine cannot be alone, and that more investment is needed in Ukrainian-made drones and missiles”
theprint.in
Sources
Related news
Ukraine Plans Record $109 Billion Defence Budget for 2027
EU Pledges Continued Support for Ukraine at Ireland Meeting
Ukraine Parliament Rejects Parcel Tax Linked to IMF Funding
US Approves Potential $2.68 Billion Air Defense Sale to Ukraine
US Approves $2.7 Billion Ukraine Defence Package Amid Russia Pressure
Canada Approves C$350 Million Air Defense Package for Ukraine
UK Eases Erasmus+ Immigration Rules Ahead of 2027 Return
Europe Weighs Delay to Methane Rules Amid Energy Fears
Governments Struggle to Keep Pace as Artificial Intelligence Accelerates
EU Urges UK to Raise Chinese Car Tariffs
