Ukraine requires an extra $12 to $15 billion (€10.8 to €13.5 billion) in financial aid for next year, mainly because of the increasing cost of the war with Russia, Deputy Finance Minister Olha Zykova said on Wednesday.
All in all, the Ukrainian government hopes to garner over $37 billion (€33 billion) in foreign assistance for 2025.
The government realised the multi-billion-dollar shortfall on recalculating the 2025 budget, according to a statement on the Finance Ministry’s website.
“The hostilities and the dangers of ongoing war, coupled with the systematic increase of costs in our defence and security sector, are the primary factors driving the growth of our financial needs,” Ms. Zykova explained.
Ukraine has received roughly $24.7 billion (€22.1 billion) in foreign assistance so far this year. An additional $13.5 billion (€12.1 billion) is expected in the remaining months of 2024.
The bulk of the remaining funds are from the European Union and the United States, with billions also coming in from the International Monetary Fund (IMF), Japan, and the United Kingdom.
Initially, based on an IMF estimate, the government had believed it would require $22.7 billion (€20.3 billion) for next year.
