Ukraine Holds Negotiations with the IMF on a New Program — Serhii Marchenko, Minister of Finance

Ukraine holds negotiations with the International Monetary Fund on a new program. Serhii Marchenko, Minister of Finance, made this statement during the briefing in Media Center Ukraine — Ukrinform. According to him, almost half of this year’s budget of Ukraine will be funded from external acquisitions, so the Ministry attempts to attract funds from different countries.

“Grant funds are a priority for us. Grant funds flow from the U.S. Government this year, and grant funds flow from Germany. The European Commission gives us the EUR 18 billion macrofinancial assistance loan. This will be credit support. It is long-term, for 15–20 years, the interest rate is quite low, given the cost of borrowings in the capital market. Therefore, in principle, this also suits us,” Serhii Marchenko explained.Recall that, according to the Ministry of Finance of Ukraine, state budget 2023 revenues are estimated in the amount of UAH 1,329.3 bn, expenditures — UAH 2,640.2 bn, the predicted deficit — up to 20.6% GDP. The priority expenditures include national security and defense of the country, social protection, support for veterans, education and health care.

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