In 2023, Ukraine plans to attract $37.9 billion to the state budget

According to the draft state budget, $13.6 billion will be allocated to eliminate the consequences of the war

In 2023, the Government of Ukraine plans to attract $37.9 billion to finance the state budget deficit and $13.6 billion to eliminate the consequences of the war. 

The largest contribution to the financing of Ukraine’s budget is expected from the USA through USAID – $18 billion to cover the state budget deficit and $6.5 billion to restore the country. It is expected that the aid will be monthly: $1.5 billion for the budget, and $0.4-0.6 billion for reconstruction.

One of the most important sources of financing will be the International Monetary Fund (IMF). It is expected that in 2023, $15 billion will come from the fund. The funds will be distributed as follows:

  • $2 billion in January, February and September;
  • $1.6 billion in June;
  • $0.6 billion – in August;
  • from $0.8 to 1.1 billion – in other months.

Macro-financial assistance from the EU and other partners is expected at the level of $7.1 billion – $0.6 billion each month, except for $0.5 billion in December. Financing of the state budget from this source is forecasted in the amount of $4.9 billion: $1.9 billion in the first quarter, $1.3 billion – in the second, $0.2 billion – in the third, and $1.3 – billion in the fourth.

“This year, within the framework of negotiations with international partners, Ukraine has already received $19 billion in financial support, of which almost 50% are grant funds. By the end of the year, we plan to attract almost $17 billion in additional financing,” said the Minister of Finance Serhii Marchenko.

As GMK Center reported earlier, grants and loans from international partners in August 2022 accounted for 56.3% of the Ukrainian state budget’s financing. In general, in August, the financing of the state budget reached a record 305.6 billion UAH. UAH 172 billion of them are external revenues, and UAH 134 billion are own revenues and resources.

Since the beginning of Russia’s full-scale invasion, international partners have provided Ukraine with $17.5 billion in macro-financial assistance. In the coming months, a tranche of macro-financial assistance from the European Union in the amount of €9 billion is expected.