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Ukraine faces billion-dollar budget deficit as US aid delays – FT

 Ukraine faces billion-dollar budget deficit due to US delays in aid – FT

Ukraine is in a very vulnerable position.

Delays in the supply of weapons from the United States have led to an increase in the budget deficit, which is why Kyiv is forced to look for money to pay salaries to the military.

This was stated by Finance Minister Serhiy Marchenko in an interview with The Financial Times.

He called on Western allies to speed up the allocation of a $50 billion loan to Ukraine, arguing that delays in arms deliveries have led to an increase in the budget deficit, so Kyiv is forced to look for money to pay salaries to the military.

“This means that the country will be forced to record a deficit, which, according to other officials, will amount to slightly less than a quarter of GDP this year – about $ 43.5 billion,” he emphasized.

According to him, despite the fact that direct US military aid in the amount of $ 27 billion was approved by Congress in April of this year, its allocation continues to be “slow.”

“We still feel a shortage of the necessary weapons, ammunition and shells,” he added.

If this situation continues, the country “will not have enough money to pay salaries to our military.

“Ukraine is in a very vulnerable position,” he summarized.

It should be noted that the new US aid package announced in Friday, August 9, 10,000 additional 155-mm RAAM shells were delivered.

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