According to the head of the NBU, Andriy Pishnyi, since the beginning of 2023 the government was able to avoid this practice because it has been able to attract 50% more funds through the domestic debt market than for the whole of 2022.
Moreover, according to the Accounting Chamber, 61% of state budget expenditures in the first quarter were directed to the state’s defensive capabilities in the amount of UAH 389B. These expenditures have been provided through internal sources: revenues excluding grants, funds from internal borrowing, repayment of loans, and privatization of state property.
At the same time, the state budget’s general fund exceeded its planned amount for the first quarter by UAH 141B, or 57%. Exceeding the plan was achieved primarily through UAH 134B in unplanned grants from the World Bank, accounting for 25% of all state budget revenues. Without these grants, the plan was still exceeded by UAH 7B, or 3%.