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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Politics

Politics

Ukraine says it received the last tranche of the EU’s 18 billion euro aid package

Flags of Ukraine fly in front of the EU Parliament building on the first anniversary of the Russian invasion, in Brussels, Belgium February 24, 2023. REUTERS/Yves Herman/File Photo
Flags of Ukraine fly in front of the EU Parliament building on the first anniversary of the Russian ... Flags of Ukraine fly in front of the EU Parliament building on the first anniversary of the Russian invasion, in Brussels, Belgium February 24, 2023. REUTERS/Yves Herman/File Photo
Flags of Ukraine fly in front of the EU Parliament building on the first anniversary of the Russian invasion, in Brussels, Belgium February 24, 2023. REUTERS/Yves Herman/File Photo
Flags of Ukraine fly in front of the EU Parliament building on the first anniversary of the Russian ... Flags of Ukraine fly in front of the EU Parliament building on the first anniversary of the Russian invasion, in Brussels, Belgium February 24, 2023. REUTERS/Yves Herman/File Photo

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Ukraine says it received the last tranche of the EU’s 18 billion euro aid package. On Thursday, Prime Minister Denys Shmyhal announced Ukraine got the last 1.5 billion euro ($1.65 billion) tranche of the 18 billion E.U. package for 2023. Kyiv is worried about the country’s economy’s dependence on partner financial help since new packages have been stalled in the E.U. and U.S.

Today, we received the final 1.5 billion euros of the 18 billion euro financial aid package. We hope the E.U. will remain supportive, “Shmyhal remarked on X. Finance Minister Serhiy Marchenko said the E.U. provided more than 45% of external finance this year as the most significant direct budget support donor.

Ukraine aims to get 18.5 billion euros from the E.U., over $8 billion from the U.S. in 2024, and essential military aid. Voting on both bills was delayed until next year.

Kyiv’s economy can survive the next several months until foreign help comes, but 2024 will be difficult, and it will need to rely more on its resources.

After optimizing budget revenues and activating the local debt market, Marchenko said Wednesday that 2024 foreign financing needs dropped from $41 billion to $37.3 billion.

“While defense and security are financed at the expense of domestic budget revenues, we are counting on the help of international partners to meet the needs of the social sphere,” stated.


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