The business community offers an alternative to increasing taxes in Ukraine. Members of the European Business Association hope that instead of drafting laws to raise taxes for businesses, the government can find other solutions to fund the budget, as the entire burden of the p... #EBA #ReformsinUkraine #TaxesUkraine #UkraineBudget2024 #UkraineBudgetDeficit #ukrainianbusiness
Ukraine has doubled its national debt, and here is what will happen next. During the 2.5 years of the full-scale war, Ukraine’s public debt has increased by 130% in hryvnia equivalent (+₴3.644B), and in foreign currency by 66% (+$62B). “Despite everything, the d... #DanyloHetmantsev #DebtRestructuring #UkraineBudget2024 #ukrainedebt
Ukraine increased its turnover by $9B. Ukraine’s seven-month turnover amounted to $61.7B (+$9B). Imports to Ukraine increased to $39.1B (+$5.9B for July). Exports from Ukraine are up to $22.6B (+$3.1B). The countries with the most im... #TradeTurnover #UkraineBudget2024 #UkraineBudgetRevenue #UkraineExport #UkraineImport
In July, Ukraine’s international reserves decreased by 1.8%, but a grant from the US raised August’s total to $40B. As of August 1, Ukraine’s international reserves amounted to $37.2B. In July, they decreased by 1.8%, the National Bank reported. Last month, the dynamics of international reserves were determin... #financeUkraine #GrantForUkraine #imf #internationalReserves #nbu #UkraineBudget2024
Ukraine may not be able to find an additional ₴500B for defense needs. Even with a proposed radical tax increase, Ukraine may not fully overcome the fiscal gap that must be closed for effective and timely financing of its military needs. Analysts from RRR4U think tanks h... #BudgetDeficit #DefenseSpending #financialaidforUkraine #UkraineBudget2024 #UkraineDefensePurchases
Ukraine will soon receive the first tranche of direct budget support from the US; another $3.9B will arrive by the end of the year. The State Budget of Ukraine will receive a grant from the US totaling almost $3.9B after representatives from the Ministry of Finance of Ukraine and the World Bank signed a corresponding agreement. Th... #PEACEproject #SupportUkraine #UkraineBudget2024 #worldbank
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
The AmCham condemns the government’s initiatives to increase corporate income taxes. The American Chamber of Commerce in Ukraine (AmCham) called on Ukrainian authorities to strengthen their fight against Ukraine’s shadow economy before increasing the tax burden on honest taxpaye... #AmChamUkraine #DefenseSpending #TaxesUkraine #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
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 Ministry of Defense explained where the additional almost ₴500B from the state budget will be allocated. In a draft law on increasing state budget expenditures in 2024 approved by the Cabinet of Ministers, which the parliament must approve, financial support for the security and defense sector is expecte... #DefenseIndustryUkraine #DefenseSpending #UkraineBudget2024 #WarinUkraine
The government proposes increasing budget expenditures by more than ₴500B and raising taxes to obtain an additional ₴140B. Ukraine’s government approved changes to the state budget that include a proposed spending increase of ₴500.3B, of which ₴495.3B would be directed to the security sector and defense. The head of... #DefenseSpending #ExciseTaxesOnFuel #RoksolanaPidlasa #TaxesUkraine #UkraineBudget2024
Ukraine lacks ₴500B to finance planned expenditures this year, although the financial sector has increased tax payments by 170%. According to the head of the Budget Committee, Roksolana Pidlasa, to finance the necessary expenses, the state budget for 2024 lacks about ₴400-500B ($10-12B). The question of funding the state budget... #BudgetDeficit #RoksolanaPidlasa #TaxesUkraine #UkraineBudget2024 #UkraineBudgetRevenue
The state budget has received $20.2B in revenue so far this year: Where did most of these funds come from? The Ministry of Finance reported that the largest revenues were from international partners and domestic state loan bond (OVDP) issuance. External financing amounted to $13.8B, and the largest donors ... #Canada #financialaidforUkraine #Japan #UkraineBond #UkraineBudget2024 #UkraineFacility
The CES provides a forecast for key macro indicators through the end of the year. The Ukrainian economy will grow by 3-4% by the end of 2024, which is less than 2023, according to the macro forecast from the Center for Economic Strategy (CES). As experts explain, the pessimism rega... #dollarexchangerate #GDPinUkraine #InflationinUkraine #UkraineBudget2024 #ukrainedebt #UkraineEconomicForecast #UkraineEconomy
By the end of the year, Ukraine will receive at least $65B from the US, the G7, the EU, and the IMF. The Ukrainian government expects to receive $7.9B in credit support from the US, Minister of Economy Yuliya Svyrydenko said. At a meeting of the Economic and Financial Affairs Council, the EU finance ... #EFFprogram #financialaidforUkraine #imf #LoanForUkraine #RussianAssetsConfiscation #UkraineBudget2024 #UkraineFacility
By the end of the year, Ukraine needs another $9.5B for urgent recovery. According to the Ministry of Finance, Ukraine needs another $9.5B this year to finance its priority recovery needs. In particular, the money is needed for the defense industry, the energy system, rest... #financialaidforUkraine #SupportUkraine #UkraineBudget2024 #UkraineFacility #UkraineRecovery
The parliament explains how Ukraine could cover its budget deficit. Due to military expenses, a deficit has formed in the state’s budget. Ukraine spent 43% of the planned annual defense budget in just four months. According to the Chairman of the Parliament’s Fi... #BudgetDeficit #DanyloHetmantsev #UkraineBond #UkraineBudget2024 #WarExpensesUkraine
The Ukrainian parliament says that the government is preparing to raise taxes. Chairman of the Verkhovna Rada Committee on Finance Danylo Hetmantsev said that the Cabinet of Ministers is preparing proposals to raise certain taxes. This is because the Ministry of Defense needs an... #DanyloHetmantsev #TaxesUkraine #UkraineBudget2024 #UkraineBudgetDeficit #WarExpensesUkraine
Ukraine needs up to $30B in annual investment, and the government has identified five priorities for rapid recovery. Ukraine needs from $10 to $30B in annual investments for the next 10 years, Prime Minister Denys Shmyhal said. “Our budget deficit is about 20% of GDP. It is important that the support is predic... #DenysShmyhal #GDPinUkraine #InvestmentsinUkraine #UkraineBudget2024 #UkraineEconomy
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
The World Bank has provided Ukraine with $34B in direct budget support and will help modernize its housing policy according to EU standards. According to the Ministry of Finance, since the beginning of the full-scale invasion $34B in direct budget support has been obtained within the framework of World Bank mechanisms. In 2022-2023, five n... #HousingModernization #SupportUkraine #UkraineBudget2024 #UkraineRecovery #worldbank
The EU is discussing using funds from the bloc’s budget to guarantee a loan to Ukraine but is leaning toward the US proposal. The European Commission is deliberating the use of future interest from frozen Russian assets to fund a multi-billion-dollar loan to Ukraine and guaranteeing this money through a seven-year EU budge... #G7 #LoansForUkraine #RussianAssets #RussianAssetsProfits #SupportUkraine #UkraineBudget2024
The National Bank has summarized the economic results for April-May. Here are the leading indicators: Inflation in April remained the same as in March – 3.2% annually. This was facilitated by a drop in prices for raw food products and persistent inflationary expe... #BusinessExpectation #InflationinUkraine #nbu #UkraineBudget2024 #UkraineEconomy #UkraineForeignTrade
Ukraine’s state budget revenues have been decreasing for four months in a row. In May 2024, the general fund of the state budget received ₴151.8B, which is less than in February, March, and April, the Ministry of Finance notes. According to the results from the five completed mo... #financialaidforUkraine #SupportUkraine #TaxesUkraine #ukrainebonds #UkraineBudget2024 #ukrainedebt
Ukraine needs an external financing plan until 2027. To overcome macroeconomic risks and maintain macroeconomic stability, Ukraine and its partners from the Donor Coordination Platform must develop a long-term strategy for external financing and support... #financialaidforUkraine #ReformsinUkraine #UkraineBudget2024 #UkraineEconomy #UkraineRecovery
Ukraine needs money for its army, and these are the reasons. The state budget lacks funds to fully finance the Defense Forces of Ukraine due to assumptions about improvement in the security situation, increased spending on the Ministry of Internal Affairs, and ... #DanyloHetmantsev #UkraineBudget2024 #UkraineDefensePurchases #UkraineEconomy #WarinUkraine
Ukraine and the US have agreed on financial assistance in the form of a loan. The Cabinet of Ministers of Ukraine approved an agreement between Ukraine and the US on attracting financial aid for the Ukrainian budget within a support package totaling more than $60B. Economic ass... #LoansForUkraine #SupportUkraine #UkraineBudget2024 #USfinancionaidforUkraine
A Ukrainian investment company revises its economic forecast for Ukraine. Investment group Dragon Capital has improved its inflation forecast in 2024 from 8% to 7.6%. At the same time, the previous estimate of a 4% increase in GDP in 2024 has been maintained thanks to the r... #DragonCapital #GDPinUkraine #InflationinUkraine #UkraineBudget2024 #ukrainedebt #UkraineEconomicForecast #UkraineEconomy
Ukraine announces its expectations for international financial assistance for this year. Since the beginning of the full-scale war, Ukraine has attracted more than $85B in external financing, Prime Minister Denys Shmyhal said. “Over ₴1T was attracted to the budget thanks to military... #DenysShmyhal #EFFprogram #financialaidforUkraine #imf #UkraineBudget2024 #UkraineFacility
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
Ukraine must pay $25.2B to service debt this year. The Ministry of Finance has preliminarily estimated that in 2024 Ukraine will have to pay more than ₴1T ($25.2B) as part of its repayment and servicing of state debt. As of May 1, the total amount of ... #UkraineBond #UkraineBudget2024 #ukrainedebt #UkraineDebtPayment #UkraineEconomy
Kyiv and Washington are negotiating lending terms for a $7.8B loan for Ukraine. Ukraine and the US are working on a list of conditions and reforms, the fulfillment of which will allow Kyiv to receive a $7.8B loan. US legislation that will provide Ukraine with almost $61B in finan... #LoansForUkraine #ReformsinUkraine #SupportUkraine #UkraineBudget2024 #USaidforUkraine
Foreign financial aid for Ukraine fell to $1.7B in April after record inflows in March. According to experts from the Centre for Economic Strategy (CES), after the record-high receipt of foreign aid in March ($9B), in April aid decreased to $1.7B. Ukraine received a $1.6B loan from the E... #EUloans #financialaidforUkraine #GrantForUkraine #Japan #SupportUkraine #UkraineBudget2024 #UScongress
Ukraine’s economic growth will slow to 3% this year, and the budget deficit will reach 20.7% of GDP. “The National Bank of Ukraine predicts that economic growth will slow to 3% in 2024 due to the loss of energy infrastructure and an expected electricity deficit of about 5%. In 2025-2026, GDP growth w... #BudgetDeficit #GDPinUkraine #InflationinUkraine #nbu #UkraineBudget2024 #ukrainedebt #UkraineEconomy
The confiscation of Russian assets will help Ukraine to finance the war at least until the end of 2028. Despite the support from the US, Ukraine needs a medium-term financing plan to repel Russian aggression, and the main source of this financing must be Russia’s frozen assets. There is a high chance th... #RussianAssets #RussianAssetsConfiscation #UkraineBudget2024 #UkraineDefensePurchases #WarinUkraine
The National Bank lowered the key policy rate to 13.5% and improved its inflation forecast. With the discount rate decrease, the rates on overnight deposit certificates and three-month deposit certificates are also reduced – to 13.5% and 16.5%, respectively. The National Bank of Ukrain... #CurrencyLiberalization #InflationinUkraine #KeyPolicyRate #nbu #UkraineBudget2024 #UkraineEconomy
How will Ukraine’s partners help it close the hole in its budget this year? According to the Ukrainian government, the need for international financing in 2024 is $37.2B. As of April 20, Ukraine has received $10.2B: $4.9B from the EU (Ukraine Facility) $2.1B from Japan... #financialaidforUkraine #imf #SupportUkraine #UkraineBudget2024 #UkraineBudgetDeficit #UkraineFacility #worldbank
IMF assistance acts as a catalyst for Ukraine’s financial support from other countries, the head of the IMF, Kristalina Georgieva, emphasized. She notes that the IMF’s 2023-2027 program with Ukraine for will provide $15.1B. However, Georgieva states the program will generate a total of $... #EFFprogram #financialaidforUkraine #imf #KristalinaGeorgieva #UkraineBudget2024 #UkraineEconomy
Ukraine’s GDP growth in March remained close to 5%. In March, the growth of Ukraine’s real GDP compared to the same period last year was 4.9%, compared to 5% in February and 5.2% in January, according to the monthly economic monitoring by the Ins... #GDPinUkraine #GVAukraine #UkraineBudget2024 #UkraineEconomy
The Ministry of Finance is seeking about ₴50B in additional domestic resources to finance defense expenditures. More than ₴50B ($1.25B) must be found before the end of the year to pay the newly introduced, additional bonuses for military personnel and police officers in the amount of ₴70,000 for service on the ... #MilitaryPersonnelSalary #OVDPselling #UkraineBudget2024 #UkraineDefenseBudget #UkraineSecurities
The EC approves the Ukraine Facility plan; Kyiv will receive payments totaling €50B from the fund. The European Commission adopted the Ukrainian Facility, which is the basis for implementing the €50B Ukrainian fund in the EU budget for 2024-2027. Thus, Ukraine will receive regular payments that are... #EuropeanCommission #GDPinUkraine #UkraineBudget2024 #ukrainedebt #UkraineEconomy #UkraineFacility
World Bank: The Ukrainian economy has reached a turning point. The World Bank offered its assessment in its regional Economic Review, as concerns about the timing and volume of future aid payments to Ukraine are growing. The World Bank predicts that Ukraine’... #GDPinUkraine #InvestmentsinUkraine #UkraineBudget2024 #ukrainedebt #UkraineEconomicForecast #UkraineEconomy #worldbank
Unpopular decisions must be made: How does Ukraine plan to get along without US aid? If Ukraine does not receive $11.2B in budget support from the US (as part of a $60B aid package), the consequence will be difficult, unpopular decisions by the Ukrainian government, noted the head of ... #BudgetDeficit #DanyloHetmantsev #financialaidforUkraine #hryvniadevaluation #UkraineBudget2024 #USaidforUkraine
Ukrainian debtholders plan to create a committee of creditors against the background of a possible debt restructuring. According to Bloomberg, large bondholders may intensify negotiations to create such a group after the IMF meeting on April 17. They note that time pressure is increasing as the moratorium on Ukrainian... #DebtRestructuring #ForeignInvestor #IMFmeeting #UkraineBond #UkraineBudget2024 #ukrainedebt
Ukraine increases its international reserves to a new record. Ukraine’s international reserves grew by 18% in March and amounted to $43.8B on April 1, the National Bank reported. The regulator explained that the increase is due to the volume of income from... #CurrencyMarket #imf #NationalBankReserves #nbu #UkraineBudget2024 #UkraineFacility #worldbank
Ukraine’s national debt increased by 54% during the first two years of the war. From February 2022 to February 2024, Ukraine’s state debt increased by $50.4B. To reduce debt pressure on the state budget, Ukraine has worked to attract loans on preferential terms. For example, the ... #DebtRestructuring #imf #UkraineBudget2024 #ukrainedebt #worldbank
Ukraine will defer payments on its national debt with the US, and the Eurobond restructuring might include a partial debt write-off. Ukraine and the US signed an agreement to postpone public debt payments with a group of Ukraine’s creditors from the G7 countries and the Paris Club. At the same time, the debt sustainability analysis... #DebtRestructuring #GDPinUkraine #imf #UkraineBudget2024 #ukrainedebt #UkraineEconomy
How Ukraine’s budget was funded in March: $9B in external financing and $4B in taxes and fees. In March, the state budget’s general fund received ₴158.1B (over $4B) in taxes, fees, and mandatory payments. About ₴105.7B was received from taxes and ₴45.8B from the State Customs Service, but... #financialaidforUkraine #GrantForUkraine #imf #UkraineBudget2024 #worldbank
The international financial aid deficit next year may reach $15B. As Deputy Chairman of the Finance Committee Yaroslav Zheleznyak said, the lack of financial aid from international partners next year may amount to $10-15B, and the hidden additional state budget defi... #EFFprogram #financialaidforUkraine #imf #SupportUkraine #UkraineBudget2024 #UkraineBudgetDeficit #YaroslavZhelezniak
