Prime Minister of Ukraine Shmyhal: the maintenance of the armed forces costs Kyiv $4.4 billion a month Before Ukraine spent $5.28 billion a year on the army, now the funding of the Armed Forces of Ukraine has grown to $4.4 billion a month, Shmyhal said. He clarified that the entire budget of Ukraine per month is $8.46 billion, $4-5 billion is missing
Every month, Ukraine spends UAH 130 billion ($4.4 billion) on maintaining the armed forces, this amount is slightly less than the annual budget of the Armed Forces of Ukraine in the period before the start of the Russian special operation, said the head of the Ukrainian government Denys Shmyhal in an interview with the LB portal.
« ;If we [earlier] maintained the army about UAH 156 billion ($5.28 billion— RBC), it was the budget of the Armed Forces of Ukraine and the Ukrainian army for a year, today about 130 billion UAH— this is the monthly amount. Of course, we have greatly increased social payments, demining costs, emergency rehabilitation costs, costs for internally displaced persons, — said the Prime Minister of Ukraine.
Shmyhal added that the entire budget of Ukraine for the month is approximately UAH 250 billion ($8.46 billion. — RBC ), of which up to UAH 100 billion ($3.39. — RBC) come from taxes and customs. Thus, the country's monthly need is $4-5 billion, he pointed out. The United States, the European Union, the IMF, the World Bank, the International Bank have stepped up their assistance to Ukraine, Shmygal continued, stressing that “today all our partners are actively involved and helping us.”
“I want to say that we see the situation is predictable by the end of the year, we understand how we will execute the budget, we feel the support of our partners, this gives us the opportunity today to think about the defense of Ukraine, about supporting the armed forces and work quite calmly,— summed up Shmygal.
According to RBC, from February 24 to the end of June, the United States, Great Britain, other countries and international organizations allocated support to Ukraine in excess of $75 billion. Assistance to Ukraine exceeded its budget revenues for the year by 1.6 times. Of this amount, financial support accounts for $27.9 billion, of which $11.6 billion was provided by the EU organizations, $9.5 billion— USA.
Read on RBC Pro Pro They don't know you here: how companies can build a reputation in a new country Instructions Pro Into the whirlpool: why quick changes are easier to survive than gradual Articles Pro How China's technology sector lost $2 trillion in capitalization Articles Pro Is it true that under air conditioning can be forgiven Where it will lead Articles Pro The US market is falling. It's time to “buy the bottom” or it's ahead – expert opinions Forecasts
For almost three months of hostilities— from February 24 to mid-May— Ukraine's spending on military needs amounted to $8.3 billion, noted in the Ministry of Finance. The ministry clarified that in April the country received only 60% of the planned tax revenues. In mid-May, the Ministry of Finance of Ukraine warned of possible “painful measures” to save the country's economy if the fighting continues for another three to four months. “The situation is very difficult, I will not underestimate it. But we can handle it,— said Minister Sergei Marchenko. He estimates the decline in Ukraine's GDP this year by 44%.
A close estimate (45%) was given at the end of April by the World Bank, which at the same time estimated the damage to Ukraine from the Russian special operation at $60 billion. These are preliminary calculations that do not take into account economic costs: losses due to the destruction of buildings and infrastructure, noted the head of the organization, David Malpass .
According to Bloomberg, by September 1, the Ukrainian authorities will have to pay $1.41 billion in public debt. According to agency sources, Kyiv is considering several scenarios for restructuring obligations. One of the options involves the use of frozen Russian assets as collateral (Bloomberg interlocutors doubted the legal prospects of such a measure) or a request on behalf of the issuer to holders of securities to change the conditions.
As noted by the agency, the bonds due in September are traded at a discount of more than 40% to their face value.
Authors Tags Subscribe to Telegram