War drags on: Finance Minister warns of serious problems for Ukraine

Ukraine is preparing for the fact that the active phase of the conflict will continue into 2025, which requires additional funding from international partners.

Ukrainian Finance Minister Serhiy Marchenko said this in an interview with RBC-Ukraine.

According to him the previous forecasts, on which the cooperation program with the International Monetary Fund (IMF) was based, turned out to be irrelevant.

"When we prepared the program, one of the key parameters was that the active phase of the war would last until mid-2024. As we can see, this forecast was not realized," the minister said.

This situation presents additional challenges for the formation of a balanced budget for Ukraine for the next year. According to Marchenko, the current assurances from international partners are insufficient for presenting a balanced budget for 2025.

"At the moment, we are constantly discussing with our partners that we need additional financial assurances because the war will continue in 2025, and we need to have a buffer," the Finance Minister said.

Regarding specific figures, Serhiy Marchenko estimated Ukraine’s additional financial needs for 2025 at $12-15 billion. He noted that this estimate was fully in line with the ongoing discussions with the IMF.

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