In 2026, Ukraine will require over 2 trillion hryvnias in external financing, which is a record figure for the state budget. This was announced by Finance Minister Serhiy Marchenko during the Hour of Questions to the Government in the Verkhovna Rada.
This is reported by Finway
Details of Financing and Uncovered Deficit
According to Serhiy Marchenko, the total need for Ukraine’s external financing for 2026 amounts to 2.079 trillion UAH. Of this amount, 827.17 billion UAH (18.1 billion dollars at an exchange rate of 45.7 UAH/dollar) currently remains uncovered.
The minister explained that these funds include the budget deficit and the amounts necessary for repaying external debt obligations. A significant portion of the financing has already been secured through the Ukraine Facility program and credit resources tied to frozen Russian assets; however, the government plans to cover the remaining need in collaboration with international partners.
“We have an understanding of how we will address this need. The majority has already been secured thanks to the Ukraine Facility program and the loan against frozen Russian assets. At the same time, there remains an uncovered need that we are communicating with international partners,” said Marchenko.
Further Steps by the Government and Possible Budget Changes
During the latest IMF mission, the government raised the issue of the need for a new cooperation program. Estimates suggest that financing a four-year program may require 150–170 billion dollars.
Serhiy Marchenko also reported that by the end of the current year, the government is likely to revise the state budget for 2025 again. This may lead to increased expenditures in the security and defense sector in response to current challenges.