$23 Bln of Foreign Financing of the Budget of Ukraine

by Meifan Honcharuk
Tuesday, July 18, 2023
$23 Bln of Foreign Financing of the Budget of Ukraine

From January 2023, international partners have invested billions to mitigate the deficit in the budget of our state

The prime minister of Ukraine, Denys Shmyhal, announced that since the beginning of this year, Ukraine's international partners have provided our budget with more than $23 billion to cover its deficit. This helped Ukraine to ease financial stress and focus on social and defence projects. The minister reported that the 4-year support program from the European Union Ukraine Facility has successfully started. According to the UF, the European Union finances projects for the reconstruction of Ukraine for 50 billion.

Since the country is at war, defence spending is a priority. As for social projects, Ukraine has arranged the payment of grants in accordance with eJob: assistance to Ukrainians who have found themselves in a difficult financial situation due to the war.

To improve the economic background, the state continues the Own Business initiative, according to which every entrepreneur can apply for grants to open, develop and relocate his business.

In accordance with the updated course of the state, Ukraine is launching a robust corridor of assistance to veterans: treatment, rehabilitation, prosthetics, and psychological support. In accordance with this movement, the demand for specialists in the specified fields is increasing.

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