Page 51 - UKRRptNov23

The Ukrainian authorities have budgeted about $46.2bn in income from Western partners in next year's draft budget, a member of the Verkhovna Rada, Yaroslav Zheleznyak, has said.
▪ $28bn from the US government and other official creditors
▪ $10bn from the EU
▪ $6bn from the IMF
▪ $2.2bn from the International Bank for Reconstruction and Development.
Where is Ukraine’s revenue coming from this year? The primary sources of funding for Ukraine’s 2023 state budget are Ukraine's international partners, former members of the National Bank Council Bohdan Danylyshyn said, based on data from the Ministry of Finance. According to his estimates, as of October 25, 2023, the largest sources of revenue for the current year are:
● $16.2B in macro-financial assistance from the EU
● $12.7B from bonds of internal state loans of Ukraine (OVDP)
● $10.9B in grants from the US
● $3.6B in IMF funds as part of the extended financing program
● $1.8B in preferential financing from Canada
“The total volume of external financing in 2023 is $35.4B” Danylyshyn noted.
Prime Minister Denys Shmyhal says Ukraine needs $42bn of funds from its international partners in 2024, Interfax Ukraine reported on October 7.
During a plenary session of the Verkhovna Rada, Shmyhal explained that this funding is essential for critical budget expenditures. Ukraine’s 2024 budget draft was recently published which shows that about half of the government’s revenue will come from its international partners. The state budget deficit is projected at $42.9 billion in 2024.
Shmyhal says that Ukraine anticipates receiving $18bn from the European Union, approximately $12bn from the United States, and funds from multi-year programs initiated by Japan and Norway, amounting to $5.5bn and $7.5bn, respectively.
In addition, Kyiv is in talks with the European Commission on a mooted Special Ukraine fund of €50bn that will be paid out over four years. The US also has a
51 UKRAINE Country Report November 2023 www.intellinews.com