Ukraine’s tax revenues in March 2025 exceeded the planned figures by one billion dollars, as reported by Finance Minister Serhiy Marchenko. According to him, this overachievement was made possible due to a better-than-expected situation with electricity supply during the winter season. This allowed businesses to operate more stably and pay more taxes.
This is reported by Finway
“This enables us to consider the possibility of gradually reducing dependence on international aid. However, this process will be slow, as it is necessary to balance the 2026 budget in accordance with the commitments agreed upon with the IMF,” emphasized Marchenko.
Despite promises to reduce dependence on international aid, a decrease in military spending is not currently forecasted, even amidst cautious discussions about a possible end to hostilities.
The National Bank of Ukraine also expects that external financial assistance will decrease in the coming years, but it will be sufficient for non-issue financing of the budget deficit and maintaining the stability of the currency market. Additionally, it is anticipated that in 2025, Ukraine will receive significant volumes of support through tranches under the ERA mechanism.
“These funds will also be enough to create a reserve for state finances for the next year,” noted the NBU.
Thanks to this financial support, Ukraine’s international reserves may grow to 58 billion dollars in 2025.