Ukraine hopes to reduce reliance on state budget funding

Ukrainian Prime Minister Denys Shmyhal has said that the country's authorities hope to reduce the reliance on state budget funding to $3 billion per month in 2023.

International support covers up to 40 per cent of Ukraine's budget expenditures this year, Kommersant quotes Shmyhal as saying on September 12.

"We understand that the state budget deficit should reach about $3 billion per month," Shmyhal said at the 17th annual meeting of the Yalta European Strategy (YES) in Kyiv.

Shmyhal added that he had previously discussed the completion of 2022 and the prospects for funding for 2023 with German Chancellor Olaf Scholz and European Commission President Ursula von der Leyen.

According to the Ukrainian Finance Ministry,  about half of the revenues to the Ukrainian state budget were obtained through foreign grants in August 2022.

Ukrainian National Bank Chairman Kyrylo Shevchenko said in July 2022 that Kyiv expects to receive an IMF loan worth $15-20 billion by 2022.

According to the estimates of the Ukrainian authorities, about $5 billion a month is transferred to the country's budget as part of foreign funding.