Ukraine receives almost $37.4B in international aid this year

The National Bank of Ukraine said this in its monthly macroeconomic and monetary review, Ukrinform reports.

"In October-November, the deficit of the state budget, without taking into account grants in revenues, was expanding. In January-November 2023, the deficit exceeded UAH 1.45 trillion (UAH 1.045 trillion including grants). Budgetary needs, as before, were primarily financed by international aid (almost $37.4 billion since the beginning of the year, including more than $4.7 billion received in October-November)," the review said.

At the same time, the domestic borrowing market also revived. In particular, the amount raised from the placement of domestic government bonds in the hryvnia exceeded the amount of the first months of 2023 (when the government bond benchmark was introduced to meet mandatory reserve standards). The attractive yield of government securities contributed to the revival of the market.

International aid to Ukraine has exceeded EUR 113 billion since Russia's invasion of Ukraine began in February 2022. Ukraine expects to receive $42 billion in international aid in 2023 and at least $37 billion in 2024.