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
The NBU predicts the stabilization of Ukraine’s FX market. The National Bank has reported that the upcoming arrival of international financial assistance should contribute to maintaining the stability of Ukraine’s foreign exchange market. As noted in th... #CurrencyMarket #financialaidforUkraine #nbu #UkraineBudget2024 #UkraineFacility
How business tax increases and economic reservations from mobilization will affect Ukraine’s budget. Ukraine needs to find new sources of income for the state budget because raising taxes for businesses will lead to a decline in the country’s defense capabilities, according to Deputy Chairman o... #BusinessSupport #MobilizationUkraine #TaxesToTheBudget #UkraineBudget2024 #UkraineEconomy #YaroslavZhelezniak
The International Monetary Fund has updated its macro forecast for Ukraine. According to the IMF, the expectation for nominal GDP in 2024 has increased to ₴7.75T from the ₴7.64T predicted in December last year’ However, 2025’s forecast remains almost unchanged at ₴8.86T. At t... #GDPinUkraine #imf #InflationinUkraine #UkraineBudget2024 #UkraineBudgetDeficit #UkraineEconomicForecast #UkraineEconomy
Over the year, Ukraine’s gross foreign debt increased by almost 25%. How does this threaten the financial system? Ukraine’s gross foreign debt at the end of 2023 amounted to $161.5B. That is, it increased by almost 25% (+$30.6B). This debt includes the external debt from the government, the central bank, commerci... #DanyloHetmantsev #GDPinUkraine #nbu #UkraineBudget2024 #ukrainedebt #UkraineEconomy
Due to delayed funding from its allies, Ukraine is seeking more resources and is looking for other domestic sources to finance urgent needs. All of Ukraine’s internal resources are directed to funding the army; the state has almost exhausted its possibilities for domestic revenue sources, said the head of the budget committee of the Ukrain... #financialaidforUkraine #RoksolanaPidlasa #UkraineBudget2024 #UkraineBudgetDeficit
Ukraine’s budget revenue increased by 65% in February, and the gambling industry increased its tax payments by 370%. The receipt of taxes, fees, and mandatory payments to the general fund of the state budget of Ukraine in February amounted to ₴184.8B, 65.4% more than in January, the Ministry of Finance reported. Rev... #gamblingukraine #TaxesToTheBudget #TaxesUkraine #UkraineBudget2024 #UkraineBudgetRevenue
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
In March, Ukraine will receive about $9B in international aid. An expert from the Center for Economic Strategy said: “The first two months of 2024 were not very fruitful for Ukraine in terms of international aid. As of February 23, we had received only $436... #EFFprogram #financialaidforUkraine #imf #SupportUkraine #UkraineBudget2024
Ukraine has come close to an agreement with the IMF on a new $900M tranche. Bloomberg reports that Ukraine has reached a deal with the IMF, though the Fund’s executive board still needs to ratify it. The agreement is the result of the ongoing discussions over the past t... #financialaidforUkraine #imf #nbu #UkraineBudget2024 #UScongress
Last year, Ukraine’s energy sector delivered ₴115B to the budget. This total refers to contributions from the payment of excise duty and rent of energy sector enterprises, which are 17% more than in 2022, reported DiXi Group. It is noted that the taxpayers remitted ... #EnergysectorUkraine #energyukraine #ExciseDuty #OilCompaniesUkraine #TaxesToTheBudget #UkraineBudget2024
Last year, Ukraine’s national debt increased by $33.9B, most of which was preferential financing from international partners. As specified by the Ministry of Finance, as of December 31, 2023, Ukraine’s state and state-guaranteed amounted to $145.3B, which is comprised of external debt – $101.7B (69.99% of the total amo... #financialaidforUkraine #UkraineBudget2024 #UkraineBudgetDeficit #ukrainedebt
The government is considering raising taxes as part of the IMF program. The Cabinet of Ministers is considering a plan to increase budget revenues by 0.5% of GDP, which Ukraine must present within the IMF program. To that end, the government plans to introduce additional ... #IMFprogramm #TaxesinUkraine #taxreform #UkraineBudget2024 #VATtaxesinUkraine
Ukraine’s tax revenues exceed expectations by 30% due to sea exports. Tax revenues in Ukraine are now 25-30% higher than forecasted in the state budget, primarily due to the successful functioning of the export corridor created by Ukraine in the Black Sea, Minister of I... #MunichSecurityConference #OleksandrKubrakov #TaxesUkraine #TEN-TUkraine #UkraineBudget2024 #UkraineMaritimeCorridor
Ukraine has increased its budget revenues, but the deficit reaches 34% of all revenues. From January 1 to February 8, budget revenues increased by 26.9% compared to last year, the NBU reported. Without international financial aid, they increased by 60% due to a 70% increase in tax revenu... #BudgetDeficit #financeUkraine #nbu #TaxesUkraine #UkraineBudget2024 #UkraineBudgetRevenue #UkraineEconomy
Without help from the US, Ukraine will have to expand its borrowing: What else is foreseen in Ukraine’s Plan B? Ukraine is working on a plan to cover the budget deficit without US support. The plan includes three elements: expanding domestic bond sales, raising taxes, and cutting spending. It is to be proposed ... #financialaidforUkraine #UkraineBudget2024 #UkraineBudgetDeficit #UkraineEconomy #UkraineFacility
The US Senate has been presented with a bill containing $60.1B in aid for Ukraine. The US Senate released a $118B bipartisan proposal for aid to Israel, Ukraine, and enhanced border security. The document provides the following: $60.1B —aid to Ukraine $14.1B — aid to Israel $22.2B —... #ChuckSchumer #financialaidforUkraine #MikeJohnson #UkraineBudget2024 #USaidforUkraine #USsenate
EU leaders have supported €50B in Ukrainian aid over four years. On February 1, all 27 leaders of the EU member states politically endorsed the launch of the €50B Ukraine Facility for 2024-2027. Most of these funds will ensure Ukraine’s social and humanitaria... #EUfinancialAid #EUsummit #UkraineBudget2024 #UkraineFacility
Ukraine expects the first €4.5B from the new EU package in March; here is what the program provides. The European Parliament must approve the €50B Ukraine Facility program, previously approved by the European Council, during the plenary session scheduled for February 26-29, 2024. The first payment of... #EUfinancialAid #EUsummit #UkraineBudget2024 #UkraineFacility #VictorOrban
Ukraine’s national debt grew 30.4% last year to a new historical high. As of December 31, 2023, the state’s and state-guaranteed debt amounted to ₴5.519T, or $145.32B, reported the Ministry of Finance. The ratio of national debt to GDP was 85%. State and state-guaranteed... #DanyloHetmantsev #financialaidforUkraine #GDPinUkraine #UkraineBudget2024 #ukrainedebt #UkraineEconomy
Zelenskyy proposes non-standard solutions to fill the state budget. President Volodymyr Zelenskyy believes that Ukrainian men who have gone abroad should pay taxes in Ukraine. According to him, some citizens left Ukraine and did not return to their former places of em... #RefugeesFromUkraine #TaxesToTheBudget #UkraineBudget2024 #Zelenskyy
All EU members have already agreed on the provision of €50B to Ukraine. Prime Minister of Ukraine Denys Shmyhal said that all 27 EU member states agreed to support the four-year €50B Ukraine Facility program and will approve it on February 1. If nothing changes, this year... #EdgarsRinkevics #EUfinancialAid #OlenaShulyak #UkraineBudget2024 #UkraineEconomy #UkraineFacility
The US will provide Ukraine with about $12B in budget support. On January 23, US Treasury Secretary Janet Yellen assured Ukrainian Prime Minister Denys Shmyhal that the Biden administration plans to provide Ukraine with $11.8B in budgetary support for $11.8B as p... #DenysShmyhal #JanetYellen #SupportUkraine #UkraineBudget2024 #USaidforUkraine #USsenate
Analysts believe that the Ukrainian economy performed surprisingly well in 2023. As noted in the Atlantic Council, in the fall of 2022 Ukraine was forced to print money, and in December 2022, inflation rose to 27%. However, the budget deficit was offset with $40B of international ... #CurrencyMarket #financeUkraine #UkraineBudget2024 #UkraineEconomy #Ukraineinternationalreserves
Ukraine has significantly reduced the need for external financing and plans to increase its weapon production. Ukraine’s foreign funding needs in 2024 will amount to more than $37B, said Prime Minister of Ukraine Denys Shmyhal. According to him, in 2023 Ukraine attracted $42.6B in external financing, 27%... #DefenseIndustryUkraine #DenysShmyhal #financialaidforUkraine #UkraineBudget2024 #WeaponsProduction
The IMF says it will help Ukraine attract additional revenues to its budget. The IMF is focused on supporting the work of the Ukrainian state and its social obligations, and not on the military sphere, said Alfred Kemmer, director of the European Department of the IMF. “... #AlfredKemmer #financialaidforUkraine #imf #UkraineBudget2024 #UkraineEconomy
The NBU points to achievements in the financial market during the war. The National Bank has maintained exchange rate stability and switched to managed exchange rate flexibility, which will strengthen the economy and financial system’s adaptability and minimize the... #AndriiPyshnyi #CurrencyMarket #financeUkraine #nbu #UkraineBudget2024
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
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
The IMF is concerned about Ukraine’s delayed financial assistance. The head of the IMF, Kristalina Georgieva, believes the West should provide financial aid to Ukraine as soon as possible. In her opinion, Ukraine can cope with the likely short-term financing deficit ... #DanyloHetmantsev #financialaidforUkraine #imf #KristalinaGeorgieva #UkraineBudget2024 #UkraineBudgetDeficit
Ukraine has a backup plan for a lack of financial assistance from the West. With uncertainty surrounding financial assistance from the US and the EU for the 2024 state budget, Ukraine is working on preparing a plan B, analysts say. They believe that with a reduction in extern... #financialaidforUkraine #SupportUkraine #UkraineBudget2024 #UkraineEconomy
What will happen if the EU refuses to increase 2024 support to Ukraine to €18B under the Ukraine Facility program: the parliament’s response. According to the Ukraine Facility plan, direct budget assistance from the total €50B over four years amounts to €39B. If that amount is divided into equal parts, you get €9.75B annually. This will no... #EUfinancialAid #RoksolanaPidlasa #UkraineBudget2024 #UkraineFacility
The EC has significantly improved its forecast for Ukraine’s 2023 GDP from 0.6% to 4.8%. At the same time, the forecast for 2024 was reduced from 4% to 3.7%; in 2025 GDP growth is expected to be 6.1%. “Despite serious problems caused by Russia’s aggressive war, Ukraine’s... #GDPinUkraine #InflationinUkraine #UkraineBudget2024 #UkraineEconomy #UkraineGDPforecast
The government has approved and sent a 2024 draft budget to the parliament: defense support increased, and $42B is expected from partners. The next year’s budget anticipates revenues of UAH 1.746T, expenditures of UAH 3.308T, and a UAH 1.531T budget deficit. At the same time, beginning January 1 the minimum salary will increase to ... #financialaidforUkraine #UkraineBudget #UkraineBudget2024 #UkraineBudgetDeficit
