Ukraine will need EUR 12B in support from EU next year - Shmyhal

Ukraine has started political consultations with the leaders of the EU countries regarding a new macro-financial assistance program for 2023.

Ukraine's Prime Minister Denys Shmyhal said this while opening a government meeting on Wednesday, Ukrinform reports, citing the government portal.

He noted that the support of international allies is one of the main pillars for the Ukrainians to liberate their territories and win a bloody war.

"As far as the issue of finances is concerned, we have unblocked the receipt of macro-financial assistance from the EU in the amount of EUR 8 billion. Today the European Commission announced the allocation of EUR 5 billion. We expect another 3 billion [euros] by the end of this year. I am grateful to the President of the European Commission, Ursula von der Leyen, for the quick and timely decision. I hope for the same quick adoption of a proposal by the European Parliament and the Council of the EU. In addition, we have started political consultations with German Chancellor Olaf Scholz and EU leaders regarding a new macro-financial assistance program for 2023. We will need EUR 12 billion in support from the EU. Along with other assistance from allies and international financial organizations, this will allow us to cover the planned budget deficit and ensure the stability of our economy," Shmyhal said.

He added that thanks to the leadership of the President of Ukraine and the work of the entire government team, Ukraine had managed to form a powerful pro-Ukrainian coalition and unite Europe to help the country.

"It is very important to make sure that this unity and support for Ukraine does not decrease both in the matters of finances and arms supply, and in relation to Ukraine's integration into the European Union and the strengthening of sanctions against Russia," Shmyhal said.

The European Commission today proposed allocating a further EUR 5 billion as the second part of the exceptional MFA package of up to EUR 9 billion.

Photo: Cabinet of Ministers of Ukraine