The first quarter of 2024 was one of the most difficult for Ukraine from a financial point of view since the beginning of the full-scale invasion, but we are going through it more or less steadily. Several tranches of financial assistance from partners are expected this month.
This was stated by Roksolana Pidlasa, the MP, Chairman of the Parliamentary Committee on Budget.
“Since 1 January 2024, there have actually been only two inflows – $900 million from the Government of Japan and $285 million from the Government of Norway. Compared to our non-military spending needs, this is very little. Of course, we were preparing for this situation. Since the end of 2023, the government has been saving money on non-priority expenditures. This situation persists in the first quarter of this year. The relevant obligations remain, and we will be able to close them when international assistance from our partners arrives,” the MP said.
According to her, Ukraine is expecting several tranches at the end of March.
“We will receive €4.5 billion from the EU. An additional €1.5 billion will come from the European Union in April. In addition, we expect $1.5 billion from the World Bank and $880 million from the International Monetary Fund. The Canadian government is also planning to provide us with direct budget support in the amount of CAD 2 billion. This will help us get through the next quarter, even if the US aid is voted in a few months,” the MP said.
She stressed that the option of no US support at all is not being considered, as all diplomatic efforts are aimed at ensuring that the bill to be voted on by the US Congress contains this assistance in one form or another.