The National Bank of Ukraine (NBU) expects international financing of the country's budget this year in the amount of $42 billion and a slight decrease to $37 billion next year.
"International support will remain very important for maintaining macro-financial stability in the coming years. Thus, given the still significant defense spending, at least $37 billion is needed to finance the budget deficit next year," the NBU said in a statement.
As Deputy Governor of the National Bank Serhiy Nikolaychuk said, the central bank does not yet have a clear breakdown for each tranche from international partners for the next year, "except, perhaps, the tranche from the International Monetary Fund (IMF), for which there is a clear schedule."
"But we proceeded, firstly, from the assessment of budget needs that we see for the next year, taking into account our assumptions and forecasts. Secondly, we proceeded from the financial guarantees that were provided by international partners when approving the program with the IMF - $115 billion under a baseline scenario for four years," he said.
The National Bank added that even after the end of active hostilities, which it now expects six months later, from the middle of 2024, high external financing needs will remain due to limited export potential and a significant need for imports for the country's post-war reconstruction.
"Ukraine needs to continue successful cooperation with the IMF and other international partners," the NBU said, Interfax-Ukraine reports.
