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 the World Bank. He explained that the reduction was achieved by maximizing state budget revenues and activating the domestic borrowing market, among other measures. All capital expenditures of the state budget were also reduced.

“In 2024, the key tasks are the military campaign and social support. Moreover, if defense and security are financed exclusively from internal budget revenues, then in order to ensure the needs of the social sphere, we count on the help of international partners,” said Marchenko.

This year, the Ministry of Finance has attracted more than $39B in external financing, and by the end of the year, the amount will reach $42.3B.

At the same time, President Zelenskyy notes that Ukraine has multi-year financial commitments from 11 countries totaling billions.