Ukraine hopes for US continued financial support in 2024

11.09.2023, 14:36
Ukraine hopes for US continued financial support in 2024 - Photo
Ukrainian Finance Minister Sergii Marchenko. Photo: Ministry of Finance of Ukraine

Ukrainian finance minister Sergii Marchenko said on Monday Ukraine would continue to receive financial assistance from the United States well into next year, reflecting its importance for a war-battered economy.

Speaking at an economic event in Kyiv, Mr Marchenko said he expected the US Congress to  adopt an interim budget in the near future and allocate USD 3.3 billion to cover the Ukrainian state budget deficit by the end of the year.

This comes as Ukraine did not receive a USD 1.25 billion US financial assistance package in August to cover its budget needs.

In 2024, the Ukrainian finance ministry would like to receive the same level of US funding as this year.

"[It is] somewhere between USD 12 billion and USD 14 billion. This is what we are working on," Mr Marchenko said, admitting that there is still "a lot of uncertainty".

"We hope that in both 2023 and 2024 the US will be with us."

Ukraine has already received USD 8.45 billion in direct budgetary support from the United States this year, and since the beginning of Russias’ full-scale invasion last February, the financial support has amounted to USD 20.48 billion in grants.

The current US aid package is valid until the end of September, when the US fiscal year ends. US treasury secretary Janet Yellen earlier assured that Congress would vote for further financial support for Ukraine.

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