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Shmyhal: Ukraine has received $12 billion in international aid this year to help cover budget deficit

by Sonya Bandouil April 27, 2024 7:01 AM 1 min read
Ukraine's Prime Minister Denys Shmyhal (R) and U.S. Treasury Secretary Janet Yellen (L) at a meeting in Washington, D.C., on April 17, 2024. (Prime Minister Denys Shmyhal/X)
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Prime Minister Denys Shmyhal announced during a government meeting that Ukraine has received approximately $12 billion in external financing since the beginning of the year to help address the budget deficit.

In an address to the World Bank and International Monetary Fund forum last October, Shmyhal noted that Ukraine would require nearly $42 billion in economic assistance in 2024 to offset the deficit. According to Shmyhal, the deficit will make up as much as 21% of Ukraine’s GDP this year.

He highlighted the recent receipt of 1.5 billion euros from the EU, and noted that nearly $8 billion would come from the U.S. aid package that passed this week.

Shmyhal emphasized that these funds are crucial for financing medical services, salaries for healthcare workers and teachers, and social programs.

"We are grateful to our allies and partners for their support," Shmyhal said.

The U.S. House of Representatives finally passed a foreign aid bill amounting to $60.84 billion on April 20, after months of political infighting. The aid package became finalized after the U.S. Senate approved the bill and President Biden signed it.

Shmyhal: Ukraine to receive record budget financing from partners in March
Ukraine will receive more than $9 billion in financial aid in March, Prime Minister Denys Shmyhal said.
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