Ukraine Budget Deficit Seen at $38 Billion in 2023

Ukraine expects a budget deficit of $38 billion next year that will be covered mainly by financing from the IMF, the United States and the European Union, Interfax news agency quoted Prime Minister Denys Shmyhal as saying on Wednesday, Reuters reported. War bonds and taxes will also help to cover the deficit, he said, adding that he hoped a new funding programme with the International Monetary Fund would be agreed for next year. Shmyhal said he expected the United States to provide $18 billion and the EU and IMF to contribute $12 billion each towards helping to cover the deficit. Additionally, Shmyhal said Ukraine would receive funding help for this year totalling 8 billion euros from the European Union, including 3 billion "in the form of a grant". The prime minister also announced an agreement with the United States on the supply of 2 billion cubic metres of natural gas over the fourth quarter of 2022 and the first three months of 2023. Read more.