In 2024, military expenditures will remain at this year’s level,

as will the need for continued international support, noted Finance Minister Serhiy Marchenko. Next year Ukraine will need more than $40B in international aid. Ukraine needs $42B in foreign financing this year and the same amount for next year.

According to Marchenko, 2023 defense spending will amount to UAH 1.6T, which is not the final figure. The finance minister specified that the financing for the 2023 budget has been fully secured. As for 2024, there is only an understanding that there is €50B in pledged financial assistance from the EU over four years. Also, there is hope that the IMF will be able to help.

The minister added that international aid to Ukraine is not yet guaranteed. However, he noted that during the 2023 budget preparation there was also no certainty that all expenses would be financed with the help of Western aid.