The planned state budget deficit this year will amount to $42 billion, and it will not be possible to cover it in full with the help of partners. This was announced by the chairman of the Parliament’s Budget Committee, Roksolana Pidlasa.
According to her, the need for external financing will remain high – around or even over $40 billion. This deficit will be covered only partially by non-repayable loans from the G7 countries and EU assistance.
“This need will be partially covered by the so-called non-repayable loans of the G7 countries (ERA loans), partially by the EU’s assistance under the Ukraine Facility (I hope we will close all or most of the overdue obligations on 22 July) and the IMF. At the same time, we still have an uncovered need for external financing for 2026 – $19 billion,” Pidlasa said.
She added that with Ukraine spending at least 66% of its budget on defence this year, finding funding should not be just a problem for the Ukrainian government and the European Commission.
“I see the potential to deepen and expand cooperation with the IMF following the example of other countries. For example, in 2025, the IMF agreed on a $20 billion cooperation programme with Argentina, of which $12 billion is an initial disbursement (i.e. without structural beacons). At the same time, Ukraine has undergone 8 (!) successful reviews to receive $6.19 billion,” she said.
According to her, even if active hostilities cease by the end of this year, defence spending will remain high for years to come.
‘But they will be accompanied by huge reconstruction costs – we are all following the World Bank’s Rapid Damage and Needs Assessment (RDNA4), which says that $524 billion is needed for reconstruction in the next 10 years after the end of the war,’ the Budget Committee chairwoman said.
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