In a comment for Bloomberg TV, Minister of Finance of Ukraine Sergii Marchenko talked about the need for external financing for 2023.
"Next year, it is important for us to attract predictable and stable concessional financing and grants to cover all priority budget expenditures. The deficit is projected at USD 3 billion per month. In addition, we have huge financial needs to rapidly recover critical infrastructure and prepare the country for one of the most difficult winters in our history," the Minister of Finance said.
At the same time, Sergii Marchenko stressed that Ukraine needs to conduct a new assessment of the damage and losses from the war, as the previous data from the report "Ukraine Rapid Damage and Needs Assessment", prepared by the World Bank, the Government of Ukraine and the European Commission, as of June 1, 2022, is no longer relevant as of the end of autumn. With every day of the war and another massive missile attack, the damage is growing significantly.
The Minister of Finance also noted that Ukraine counts on the leadership of the United States, the European Union and the International Monetary Fund to support the country's financial system.
"The US and the EU have already announced proposals to provide Ukraine with funds to cover most of the deficit next year. Also, the IMF Mission with the authorities of Ukraine is currently underway, where we are discussing the Program Monitoring with IMF Board Involvement. This Program will outline the directions of monetary and fiscal policies. We expect that this will help Ukraine attract funding from donors and pave the way toward a fully-fledged Fund program," the Minister of Finance said.