Ukraine Preparing 2027 Budget With USD 32.6B Funding Gap, Finance Minister Says
“We haven't had a situation like this since 2022; we really suffered from the shortage of liquidity. Right now, we are getting far too near to the same scenario we had in 2022,” he said.
The Minister noted that the intensity of Russian attacks on Ukraine increased sharply in August.
“The war has intensified very quickly. We realize that ourselves. It is a totally different reality compared with last month, with the recent attacks on our logistics. We expect a very hard winter. Escalation means we have to find the means to survive it,” he said.
Marchenko said he was working on a new budget based on the assumption that the war will continue into 2027, with an estimated funding shortfall of $32.6 billion to be covered.
According to him, these figures are in line with the IMF estimate.
Therefore, Ukraine's Finance Minister urged European ministers to take a creative approach to the issue and consider a new Ukrainian plan for using approximately $300 billion in frozen Russian assets.
He said the new Ukrainian plan, which would involve transferring responsibility for assets currently held in Belgium, had introduced“totally new elements” to mitigate the legal risks for the Belgian government and Euroclear, which holds the assets.
“We want to discuss it; the plan creates new conditions where it is not the responsibility of Belgium to face court disputes with Russia, but the joint responsibility of the 27,” Marchenko concluded.
Read also: IMF mission meets Finance Ministry leadership to discuss economy and 2027 budgetAs Ukrinform reported, ahead of an informal meeting of ministers for European affairs of EU member states, Deputy Prime Minister for European and Euro-Atlantic Integration Vsevolod Chentsov said that Ukraine, while asking partners outside the EU to accelerate efforts to cover one-third of Kyiv's financial needs in addition to the EU's €90 billion loan for 2026–2027, is also promoting the idea of reviving discussions on the use of frozen Russian assets.
Photo: Ministry of Finance of Ukraine
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