The EU is looking for ways to finance the Ukrainian budget deficit next year, and Ukraine is expecting to receive more than $30B in funding.

The EC is considering all possible options to finance and support Ukraine but hopes that the EU Council will approve the Ukrainian Fund, which will provide funds to Kyiv from 2024 to 2027, said Executive Deputy Chairman of the EC Valdis Dombrovskis.

He noted that, in any case, Ukraine’s financing deficit will probably remain huge. Therefore, the EU needs to move quickly to adopt the Ukrainian Fund since the deadlines are very tight, and the new payments should start at the beginning of January.

Prime Minister Denys Shmyhal announced that Ukraine expects to receive $5.4B in financial aid from the IMF, €18B from the EU, over $10B from the US, and additional budget support from Japan, the UK and other allies.

At the same time, Shmyhal emphasized that it is challenging to finance military budget expenditures with a ₴1.570 trillion deficit, “but we managed to cope with it both last year and this year.”