Denis Shmygal assesses the damage to the country from the Russian invasion
Ukraine's allies help Kiev cover part of the state's budgetary needs.
The damage assessment from the Russian armed aggression verified by the World Bank was $350bn as of 1 June 2022 and $600-750bn as of 1 January 2023. However, due to the fact that the military conflict continues, the amount of damage will grow, Prime Minister Denys Shmyhal said.
The head of the Ukrainian government also informed what sums were spent by the Cabinet in 2022. He specified that total budget expenditures last year amounted to UAH 2.64 trillion, while revenues - UAH 1.33 trillion. State debt increased by only $13 billion during the year - up to $111 billion.
He also said that the country survived largely thanks to the support of the partners.
About 62% are our funds and bonds (internal government loan). 38% or $38 billion are grant funds and preferential loans from our partners, - he said.
The head of the Cabinet of Ministers added that this year's budget deficit is estimated at $38.5 billion, which Ukraine intends to finance through foreign loans.
Shmyhal recalled that Ukraine is working with its allies to confiscate Russian assets abroad. The Russian money is intended to be used to rebuild the country.
The issue of confiscation of Russian assets in favor of Ukraine is being solved at the legal level. There is already a first successful case. We are talking about confiscation of assets of two Russian banks worth 17bn hryvnyas," Shmyhal said.
- Reznikov voiced Ukraine's main needs for a counter-offensive
- Lukashenko threatens Ukraine and fears NATO will invade Belarus
- How many people have applied to join the Offensive Guard
- "The enemy is visibly nervous," Syrsky said of the situation on the Bakhmut direction
- Ukraine to raise the age limit for contract military service for officers
- The military showed what Bakhmut looks like now