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Foreign partners cover nearly 50% of budget expenses – Svyrydenko

A new mechanism to insure investment is being developed.

Foreign partners cover nearly 50% of budget expenses – Svyrydenko

About 50% of the state budget expenditures of Ukraine are currently covered by foreign partners, the rest by Ukraine on its own, First Deputy Prime Minister Yuliya Svyrydenko has said at the World Economic Forum in Davos.

"Fifty per cent of our expenses are covered by our partners, and 50% are covered by Ukrainian business, profits and taxes collected within the country," she said.

Therefore, she stressed the importance of supporting the work of Ukrainian companies, providing them with access to financing and insurance.

According to her, Ukraine is discussing with foreign partners ways of support that will facilitate the return of Ukrainian business to Ukraine and attract new investments. In particular, it is about the development of a new insurance mechanism.

"We are developing an insurance mechanism that will allow investments in Ukraine during martial law. We have asked expert credit agencies to review their product portfolio and offer products that will satisfy companies that want to invest in Ukraine now, during the war. We need investments now, without waiting for the end of the war," Svyrydenko said.

According to the NBU, in 2023 Ukraine needs to meet the budget needs at the level of at least $38 billion. This will have to be done through external financing.

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