August 16, 2022

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Ukraine.  "We need $9 billion a month in financial aid."

Ukraine. “We need $9 billion a month in financial aid.”

“Ukraine now needs $9 billion a month from its Western allies to fill the budget gap,” Ostenko told the Financial Times.

The British newspaper notes that this is nearly double what the authorities in Kyiv previously estimated. Ukraine’s Ministry of Finance has calculated that its assessment of the gap is still $5 billion per month, but even this is much higher than the amounts offered by Western countries so far.

Meanwhile, Ole Ustenko said Ukraine needs an additional $4 billion per month for the next three months to cover emergency accommodation costs for millions of people and repair dilapidated homes, and to provide a basic minimum income for people who have lost their homes. Careers. “We will try to survive in any case, but without the financial support of our allies, it will not only be difficult, but also impossible,” Zelensky’s advisor noted.

Increasingly difficult situation

The Financial Times notes that Ukraine’s Western allies are sounding the alarm in light of the mounting pressure on its public finances. stretch, The war has been going on for nearly five monthscaused lower tax revenue, imposed higher and higher military spending, and suspended grain and steel exports deprived Kyiv of currency inflows.

As a result, Ukraine is forced to use its foreign exchange reserves at an accelerated pace. The central bank in Kyiv said last week that it used $2.3 billion, or 9.3 percent, in June alone. their foreign reserves.

The situation is so difficult that the state-owned energy company Naftogaz asked holders of bonds worth $ 1.5 billion for permission to postpone payments in order to save money for the purchase of gas.

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