The 2026 state budget’s external financing deficit will reach $19B.


Roksolana Pidlasa, head of the parliamentary budget committee, said that after adopting amendments to Ukraine’s budget this year, its planned deficit will be $42B (based on the estimated exchange rate), and there is no reason to think it will decrease next year. As a result, the need for external financing will remain at about $40B. “Partly, this need will be covered by the so-called non-repayable loans from the G7 countries (ERA loans), partly by EU assistance within the framework of the Ukraine Facility, and the IMF. At the same time, the external financing need for 2026 remains unmet of $19B”, she noted.
She added that, given Ukraine will allocate at least 66% of its budget to defense this year, the search for financing should be a concern not only for the Ukrainian government and the European Commission.
“I see the potential for deepening and expanding cooperation with the IMF, following the example of other countries“, Pidlasa said.
She highlighted that even if active hostilities end by the end of this year, defense spending will stay high for more than a year, along with significant reconstruction costs.