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Ukraine Fights to Strengthen Economy Amid Ongoing Conflict with Russia
(MENAFN) For Ukraine, the fight against Russia is not only waged on the battlefield but also on the financial front, where maintaining economic stability is crucial for the nation’s survival and its long-term future.
"We don't want to be just a poor neighbour [to the EU]," Ukraine’s Finance Minister Sergii Marchenko said, highlighting the country’s broader ambitions.
He added: "We want to provide for Europe, something which they lack," referencing the hard-won military experience Ukraine has acquired since the conflict began in February 2022.
Marchenko noted that the "very painful" lessons learned by his country could also strengthen the continent’s overall defenses.
Ukraine sees EU membership as a top priority, and officials express deep appreciation for financial assistance from the bloc, which is fostering closer ties and helping give Kyiv an advantage over Moscow.
A new €90bn ($105bn; £79bn) loan from the EU is set to cover Ukraine’s budget gap over the next two years. Approved by the European Parliament, the first disbursement could arrive as soon as April. This loan represents the largest portion of a $136.5bn (£101bn) international aid package, which Marchenko says is essential for the country’s continued survival.
"Our strong army depends on our strong economy, because all of our resources, which we mobilize internally, we channel... to defend our nation," he said.
He also emphasized the role of domestic support, stating: "We are grateful for the support of other nations to help us, but definitely Ukraine's taxpayers are doing the best help for our army."
"We don't want to be just a poor neighbour [to the EU]," Ukraine’s Finance Minister Sergii Marchenko said, highlighting the country’s broader ambitions.
He added: "We want to provide for Europe, something which they lack," referencing the hard-won military experience Ukraine has acquired since the conflict began in February 2022.
Marchenko noted that the "very painful" lessons learned by his country could also strengthen the continent’s overall defenses.
Ukraine sees EU membership as a top priority, and officials express deep appreciation for financial assistance from the bloc, which is fostering closer ties and helping give Kyiv an advantage over Moscow.
A new €90bn ($105bn; £79bn) loan from the EU is set to cover Ukraine’s budget gap over the next two years. Approved by the European Parliament, the first disbursement could arrive as soon as April. This loan represents the largest portion of a $136.5bn (£101bn) international aid package, which Marchenko says is essential for the country’s continued survival.
"Our strong army depends on our strong economy, because all of our resources, which we mobilize internally, we channel... to defend our nation," he said.
He also emphasized the role of domestic support, stating: "We are grateful for the support of other nations to help us, but definitely Ukraine's taxpayers are doing the best help for our army."
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