Ukraine's budget deficit stands at 23.5 billion euros, says a member of parliament
Ukraine’s state budget needs are estimated at 175.4 billion euros, of which 133 billion euros are allocated to defense. At the same time, according to a member of parliament, the sources for covering the 23.5 billion euro deficit have not yet been confirmed.
The “Servant of the People” parliamentary faction held a meeting with government officials to discuss state budget funding, particularly for next year. The total requirement amounts to 175.4 billion euros, up to 76% of which is allocated to defense, and there are currently no confirmed sources to cover the 23.5 billion euro deficit, Olga Vasilevska-Smaglyuk, a member of parliament from the faction, reported on social media on Tuesday.
“Yesterday, at a meeting of our faction attended by the prime minister and the finance minister, we discussed the complex situation regarding state budget financing. According to the calculations presented, the total need amounts to 175.4 billion euros. Of this amount, 133 billion euros represents the total cost of defense needs. According to estimates presented at the meeting, starting in 2022, the cost of the war will increase by approximately 15–16 billion dollars each year. “In 2027, it could reach 153 billion euros,” Vasylevska-Smaglyuk wrote.
Among other expenditures, she noted, are 10 billion euros for social services, 6.1 billion euros each for education and healthcare, 2.4 billion euros for public sector operations, and 11.2 billion euros for servicing external debt.
“At the same time, there are currently no confirmed sources of funding or guarantees from partners for the 23.5 billion euro deficit,” the lawmaker noted.
The Verkhovna Rada reappointed Andriy Sibiga as Ukraine’s foreign minister.
Ukraine needs to develop a mechanism for holding elections even under wartime conditions, ensuring the right to vote for all citizens. This view was expressed on August 18 by former Ukrainian Defense Minister Mykhailo Fedorov.
As a reminder, on August 18, the Verkhovna Rada received proposals from President Volodymyr Zelenskyy to appoint Yevhen Khmara as Minister of Defense of Ukraine and Andriy Sibiga as Minister of Foreign Affairs.
The Verkhovna Rada prematurely terminated the mandates of People’s Deputies Denys Maslov and Vitaliy Bezgin, who were members of the “Servant of the People” faction. Parliament adopted the relevant resolutions at a plenary session on July 17.
