The G7 finance ministers have agreed to continue supporting Ukraine in its fight against Russia, stated German Finance Minister Lars Klingbeil on the sidelines of the G7 meeting in Canada. It was previously reported that the US opposes including “further support” for Ukraine in the G7... #Canada #FrançoisPhilippeChampagne #G7 #Germany #LarsKlingbeil #SerhiyMarchenko #SupportUkraine
Ukraine’s external financing needs for 2025 are fully met. According to Finance Minister Serhiy Marchenko, this year’s macro financial support from Ukraine’s key partners will amount to $16.8B, completely covering its external financing needs for ... #BudgetDeficit #financialaidforUkraine #RussianAssetsProfits #SerhiyMarchenko #UkraineBudget2025
In March, Ukraine’s tax revenues surpassed their target by $1B. According to Finance Minister Serhiy Marchenko, this figure was made possible by a better-than-expected electricity supply during the winter, which enabled businesses to operate more consistently and ... #financialaidforUkraine #imf #nbu #SerhiyMarchenko #TaxesUkraine #UkraineBudget2025
Kyiv has urged the EU to extend the duty-free trade regime to avoid devastating Ukraine’s economy. Ukraine has warned that the expiration of duty-free trade with the EU on June 5 could result in ”serious damage” to its economy. Kyiv hopes the EU will extend the duty-free trade regime, especially gi... #DutyFreeTrade #FreeTradeAgreement #SerhiyMarchenko #TradeRestriction #UkraineEconomy #UkraineExport
How much financial support from the EU will Ukraine receive this year and will aid from the US be suspended after Trump’s decree? In 2025, Ukraine expects to receive more than €30B in budget support from the EU, said Finance Minister Serhiy Marchenko. The amount consists of two parts: €18.1B from the framework of using income fr... #DonaldTrump #EUfinancialAid #PDA #SerhiyMarchenko #UkraineBudget2025 #UkraineFacility #USAI #USmilitaryAid
Ukraine will be able to confront Russia without US assistance during the first half of 2025. However, the likely termination of US aid to Ukraine could become a serious challenge, so Ukraine needs a plan for cooperation with the new US administration, said Minister of Finance Serhiy Marchenko... #G7 #LoanForUkraine #MilitaryAidforUkraine #SerhiyMarchenko #UkraineBudget2025 #WarinUkraine
The Ministry of Finance states that Ukraine has the resources to fight Russia in 2025. Although European allies are concerned that the US will cease providing aid to Kyiv after Donald Trump enters office, the EU is confident that Ukraine will soon receive a $50B loan to be repaid with p... #DonaldTrump #LoanForUkraine #RussianAssetsProfits #SerhiyMarchenko #SupportUkraine #WarinUkraine
Ukraine will receive up to €35B from the EU as part of the $50B G7 loan secured by frozen Russian assets. Ukrainian Finance Minister Serhiy Marchenko signed a memorandum and a loan agreement with the EU to receive up to €35B in macro-financial assistance (MFA). These funds are part of the G7 initiative to... #G7 #LoanForUkraine #RussianAssetsProfits #SerhiyMarchenko
Ukraine will not have to repay the $50B G7 loan until it receives reparations from the Russian Federation. Ukrainian parliament members approved amendments to the Budget Code, which introduced a new concept in the budgetary sphere – conditional debt obligations. This establishes a special status for funds ... #G7 #LoanForUkraine #ReparationsForUkraine #RoksolanaPidlasa #RussianAssetsProfits #SerhiyMarchenko #VerkhovnaRada
Ukraine will receive $22B from frozen Russian assets next year. Of the $50B planned to be provided to Ukraine from frozen Russian assets, the first tranche of $22B will be transferred in 2025, and the remaining funds will be received in 2026-2027, said Finance Min... #LoanForUkraine #Norway #RussianAssetsProfits #SerhiyMarchenko #SupportUkraine
Why did the IMF improve its economic forecast, and what are the key areas for Ukraine’s GDP growth? An IMF team has improved its economic growth forecast for Ukraine this year from 3% to 4%, as the Ukrainian economy has performed better than expected in the previous two quarters, IMF spokeswoman Jul... #EFFprogram #GDPinUkraine #imf #JulieKozack #SerhiyMarchenko #UkraineEconomy
Ukraine expects to receive another $15B from its partners by the end of 2024. The Ministry of Finance of Ukraine expects to receive more than $15B in foreign aid in the last two months of 2024. During October 21-26, the ministry’s team led by Minister Serhii Marchenko hel... #financialaidforUkraine #G7 #imf #IMFtranche #LoanForUkraine #RussianAssetsProfits #SerhiyMarchenko
The Ministry of Finance links the multibillion-dollar hole in the budget to delayed aid from the US and calls on the G7 to provide Ukraine with a $50B loan. Finance Minister Serhiy Marchenko has called on Ukraine’s Western allies to accelerate the $50B loan to Ukraine, arguing that delays in arms deliveries have led to a growing budget deficit, forc... #Creditors #G7 #imf #LoanForUkraine #RussianAssetsProfits #SerhiyMarchenko #UkraineBudget #UkraineBudgetDeficit
Given the war’s continuation, Ukraine will need up to $15B in additional funding next year. According to Finance Minister Serhiy Marchenko, Ukraine and the International Monetary Fund (IMF) estimate the country’s additional financial need for 2025 from Western partners at between $12B ... #imf #MilitaryLevy #SerhiyMarchenko #TaxesUkraine #UkraineBudget
The Ministry of Finance is ready for a compromise with the parliament regarding tax increases. According to Minister of Finance Serhii Marchenko, this strictly depends on the how the parliament plans to secure an additional ₴120B in revenue by the end of 2024. The Ministry of Finance has propos... #MilitaryLevy #PennyPritzker #SerhiyMarchenko #TaxesUkraine #UkraineBudget
Ukraine will receive $3.9B in direct budget support from the US, said Prime Minister of Ukraine Denys Shmyhal. He expressed hope that Ukraine will be able to receive $50B in 2025 through the G7 initiative to use the profits from frozen Russian assets. In addition, ... #DenysShmyhal #financialaidforUkraine #G7 #LoansForUkraine #RussianAssetsProfits #SerhiyMarchenko #UkraineBudget2024
Japan has already provided Ukraine with $6.3B since the beginning of the invasion: The Ministry of Finance anticipates continued support. The Minister of Finance of Ukraine, Serhii Marchenko, stated: “Ukraine is systematically strengthening its financial capacity, increasing the internal revenues of the state budget. At the same t... #financialaidforUkraine #imf #Japan #SerhiyMarchenko #SupportUkraine #UkraineBudget2024 #UkraineRecovery
The EIB will approve a €250M support package for Ukraine’s energy sector and allocate another €200M to modernize its public transport. The government of Ukraine and the EIB are working diligently to prepare new agreements for a €250M support package. “The EIB systematically supports Ukraine in priority area and continues to wor... #EIB #EnergyRestore #energyukraine #InvestmentsinUkraine #KyivPublicTransport #SerhiyMarchenko
Ukraine has fulfilled more than 50% of the IMF’s requirements and received $10.2B from the IMF since the beginning of the war. As Minister of Finance, Serhiy Marchenko noted: “The Government of Ukraine, the National Bank of Ukraine, and other authorities have so far implemented 23 structural beacons out of 37 stipulated... #financialaidforUkraine #imf #IMFStructuralBeacons #ReformsinUkraine #SerhiyMarchenko #UkraineBudget2024
The EBRD provides €200M to strengthen Ukraine’s energy security and will help increase the number of Ukrainian projects that are ready to attract foreign investment. €200M from EBRD will support Naftogaz of Ukraine in creating strategic reserves of natural gas and supporting energy security. The corresponding guarantee agreement was signed by the Minister of Finan... #ArvidTuerkner #ebrd #EnergyIndependence #InvestmentsinUkraine #Naftogaz #SerhiyMarchenko #UkraineFacility
Ukrainian eurobonds drop in value following creditors’ refusal to write part of the debt off. The value of Ukrainian Eurobonds fell during trading on June 17, showing one of the worst performances for emerging markets. The country’s eurobonds weakened across the curve, with bonds maturin... #DebtRestructuring #Eurobond #financeUkraine #SerhiyMarchenko #UkraineBond #UkraineBudget
The G7 officially announced a $50B loan secured by Russian assets for Ukraine. Following the summit, the G7 leaders adopted a declaration outlining the details of the mechanism through which Ukraine will receive up to $50B in aid secured by frozen Russian assets. The leaders of ... #G7 #LoansForUkraine #ReparationsForUkraine #RussianAssetsProfits #SerhiyMarchenko #UkraineBudget
It is too early to talk about the state budget deficit in 2025, and the government is looking for additional funding. Finance Minister Serhiy Marchenko said that it is too early to talk about the extent of next year’s budget deficit because everything will depend on the intensity of military operations. In addition, ... #DenysShmyhal #SerhiyMarchenko #UkraineBudget2024 #UkraineBudgetDeficit
Ukraine has a $5B deficit in its budget for weapon purchases, so the government is preparing to raise taxes. Ukraine’s state budget has an approximate $5B shortfall of what is needed to purchase weapons, Minister of Finance Serhiy Marchenko said, because over the past six months, Ukraine has received minimal... #SerhiyMarchenko #TaxesinUkraine #UkraineBudget2024 #UkraineDefensePurchases #WarinUkraine
The IMF expects Ukraine’s GDP to grow by 3.2% this year. Next year, Ukraine’s GDP growth will be 6.5%, according to the World Economic Outlook report. According to the IMF forecast, consumer inflation in Ukraine will decrease from 12.9% in 2023 to 6.4... #EFFprogram #GDPinUkraine #imf #SerhiyMarchenko #UkraineEconomicForecast #UkraineEconomy
Ukraine awaits a decision on a new IMF tranche on March 21 and $10B in external financing in March-April. The National Bank assumes that Ukraine will receive over $10B in external funding in March-April. A favorable decision by the IMF board of directors will allow Ukraine to receive the fourth tranche of... #EFFprogram #financialaidforUkraine #imf #SerhiyMarchenko #UkraineFacility
The European Parliament approved the allocation of €50B for Ukraine over four years. However, the €50B EU program will receive final approval in April. “The regulations for disbursement of funds under the EU program contain final conditions, which will be approved by the governm... #EUfinancialAid #EuropeanParliament #SerhiyMarchenko #UkraineBudget2024 #UkraineFacility #YuliyaSvyridenko
The Minister of Finance summarized this year’s budget financing and outlined the prospects for the following years. In 2023, Ukraine attracted $42B through external financing just to cover budget needs and support a record amount of borrowing on the domestic market, Minister of Finance Serhiy Marchenko said. This a... #financialaidforUkraine #SerhiyMarchenko #UkraineBudget2024 #UkraineEconomy #UkraineFacility
The government and the NBU predict an increase in the cost of living in Ukraine. The head of the NBU, Andriy Pyshnyi, said that product prices will rise sharply at the beginning of January. For the first month of the year, growth will be, on average, 5%. As for causes, first, the ... #AndriiPyshnyi #InflationinUkraine #nbu #pricesinUkraine #SerhiyMarchenko #UkraineEconomy
The Ministry of Finance has postponed the repayment of Ukraine’s foreign debts, which will save up to $15B. Finance Minister Serhiy Marchenko signed an amendment to the Memorandum of Understanding that postpones state and state-guaranteed debt payments with a group of official creditors from the G7 and Pari... #nbu #SerhiyMarchenko #ukrainedebt #UkraineDebtRepayment
Ukraine launches Plan B due to delayed funding from Western allies. Finance Minister Serhii Marchenko noted that the ministry is confident of receiving Western aid in 2024 but not in January and February. The EU will consider financial assistance for Ukraine on Februa... #financeUkraine #financialaidforUkraine #SerhiyMarchenko #SupportUkraine #UkraineBudget2024
Ukraine announced a $4B reduction in external financing needs for 2024. The government of Ukraine reduced the amount from $41B to $37.3B, Minister of Finance Serhii Marchenko said during a meeting of the financial leaders from the G7 countries, EU leadership, the IMF, and... #financialaidforUkraine #SerhiyMarchenko #UkraineBudget2024 #Zelenskyy
Without international financial support, Ukraine will face a $29B budget deficit next year, and the EU will also suffer. The Ukrainian Minister of Finance, Serhiy Marchenko, emphasized the importance of maintaining macroeconomic stability because Ukraine may also face an economic crisis and additional military conflict.... #financialaidforUkraine #SerhiyMarchenko #SupportUkraine #UkraineBudget #UkraineBudgetDeficit #UkraineFacility
Even after victory, Ukraine will need international aid to survive. As Minister of Finance Serhiy Marchenko said, two fundamental ways to reduce this dependence in Ukraine are increasing economic output and winning the war. “But increasing the domestic market vo... #financialaidforUkraine #SerhiyMarchenko #SupportUkraine #UkraineEconomy #UkraineRecovery
Ukraine presents the G7 financial block with its economic prospects, which the IMF assesses positively. Ukraine’s economy is showing stability during the current year, and GDP growth is forecast to be 4.7%, said Finance Minister Serhiy Marchenko. “Inflation is falling faster than expected: 7... #AlfredKammer #GDPinUkraine #imf #InflationinUkraine #SerhiyMarchenko #UkraineEconomy
Private investment can provide a third of Ukraine’s needs for recovery, said the president of the World Bank Group, Ajay Banga. He also noted that the World Bank positively assesses Ukraine’s course on implementing reforms. “The Minister of Finance, Mr. Marche... #AjayBanga #InvestmentsinUkraine #SerhiyMarchenko #UkraineEconomy #UkraineRecovery #worldbank
MIGA has provided Ukraine with almost $200M in guarantees. Since the beginning of the Russian invasion, MIGA has provided Ukraine with guarantees totaling $196M, noted Minister of Finance Serhiy Marchenko. Also, MIGA contributed to creating the SURE war risk ... #MIGA #MilitaryRiskInsurance #SerhiyMarchenko #SURE
Funding of the state budget, recovery, and the €50B Plan for Ukraine have been discussed at the Multi-Agency Donor Coordination Platform. On September 26, the sixth meeting of the Steering Committee of the Platform of Donors for Ukraine was held in Brussels. Minister of Finance of Ukraine Serhiy Marchenko emphasized that the need for in... #OleksandrKubrakov #SerhiyMarchenko #UkraineFacility #UkraineReconstruction #YuliyaSvyridenko
Ukraine is preparing for the second revision of its program with the IMF. A review of the EFF program is expected in October, said the head of the Ministry of Finance, Serhii Marchenko, at the EBA Global Outlook meeting. According to the minister, it is necessary to demonst... #EFFprogram #imf #IMFprogramforUkraine #SerhiyMarchenko
Ukraine expects to receive another $3.3B in budget support from the US by the end of the year. According to the Minister of Finance of Ukraine, Serhiy Marchenko, the Ministry of Finance is counting on the same amount of financial assistance from the US in 2024 as it received this year. The mini... #financialaidforUkraine #SerhiyMarchenko #UkraineBudget #USsupportsUkraine
The Ministry of Finance of Ukraine also “positively” revised its forecast for Ukraine’s GDP. According to 2023’s activity, Ukraine’s GDP will grow by more than 3%, Minister of Finance Serhii Marchenko said. “The balance of payments has been adjusted thanks to external infusi... #EUEconomy #GDPinUkraine #nbu #SerhiyMarchenko #UkraineEconomy
Ukraine will start raising taxes on banks first if the IMF requests higher taxes. As of today, the Ministry of Finance does not foresee changes in the tax system anytime soon, and there is no need to talk about tax increases, Minister of Finance Serhiy Marchenko said at the EBA Glo... #financeUkraine #imf #SerhiyMarchenko #TaxesinUkraine #UkrainianBanks
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 ... #financialaidforUkraine #SerhiyMarchenko #UkraineBudget #UkraineBudgetRevenue
The EU has presented its conditions for the new €50B financing package for Ukraine. The country’s authorities must fulfill several requirements to implement the Financial Instrument for Ukraine (Ukraine Facility) from the EU, which provides financing of up to €50B for four year... #EUfinancialAid #InvestmentsinUkraine #SerhiyMarchenko #UkraineFacility
Ukraine has already received $22B from the World Bank and donor countries. Before the start of the full-scale war the World Bank mobilized $34B to support Ukraine, over $22B of which Kyiv has already received. This was discussed during a working visit to Washington by the Mi... #AnnaBjerde #AntonellaBassani #financialaidforUkraine #SerhiyMarchenko #WorldBankGroup
The Minister of Finance of Ukraine met with representatives of the World Bank, IMF, and IFC to discuss funding for the reconstruction. Serhii Marchenko discussed this during the meetings of the member countries of the IMF and the World Bank in Montenegro. He reminded the participants that Ukraine needs $14.1B for recovery this year i... #AntonellaBassani #InvestmentsinUkraine #SerhiyMarchenko #UkraineReconstruction #UkraineRecovery
Ukraine lacks $6.5B for rapid reconstruction, said Minister of Finance Serhii Marchenko. He notes that of the $14B needed for rapid reconstruction, $3.3B is already in the budget. There are also stated intentions of partners to finance these costs. In particular, the US will allocate $2.3... #financialaidforUkraine #SerhiyMarchenko #UkraineReconstruction #UkraineRecovery
Washington and Kyiv emphasize strengthening sanctions due to Russia’s ability to circumvent them. In Japan during a meeting with finance ministers and heads of central banks from the G7 countries, US Treasury Secretary Janet Yellen tried to convince the allies to help strengthen sanctions against ... #G7Summit #JanetYellen #SanctionsAgainstRussia #SerhiyMarchenko
Ukraine will receive $11B for recovery by summer and is counting on additional aid for $2B. Minister of Finance Serhiy Marchenko notes that the total recovery needs this year are $14B, with the state budget providing $3.3B. Discussions are ongoing regarding $1.5B from the US, which has also ... #financialaidforUkraine #SerhiyMarchenko #UkraineRecovery
EU sent the third €1.5B tranche of microfinance aid, increasing the total aid to €6B in 2023. Previously, Ukraine received the first tranche of €3B in January 2023, and the state budget received the second tranche of €1.5B in March. Thus, the volume of direct 2023 budget support from the EU ha... #EUfinancialAid #SerhiyMarchenko #UrsulavonderLeyen
