PM Shmyhal outlines Ukraine’s important financial victories

The relevant statement was made by Ukrainian Prime Minister Denys Shmyhal at a meeting of the Cabinet of Ministers of Ukraine, an Ukrinform correspondent reports.

“It has been a very busy European week. We achieved important victories in several directions,” Shmyhal said.

The Prime Minister mentioned that Ukraine had obtained EUR 4.5 billion from the European Union to finance the state budget deficit. Another EUR 1.5 billion will be allocated this April.

“In general, we expect to receive EUR 16 billion from the European Union this year,” Shmyhal noted.

Additionally, Europe is establishing a new fund to provide military support for Ukraine.

This year Ukraine is expected to receive an additional EUR 5 billion, resulting in “more weapons, more equipment and, thus, more benefits on the battlefield”, Shmyhal stressed.

“We held the ninth meeting of the EU-Ukraine Association Council. The general progress in implementing the Association Agreement is 77%, which is +5% over the past year,” Shmyhal added.

On Monday, March 18, 2024, the Ukrainian government approved the Ukraine Facility Plan. On Wednesday, Shmyhal handed it over to President of the European Commission Ursula von der Leyen.

“We expect it to be endorsed by the European side. This Plan will significantly accelerate our path to the EU,” Shmyhal emphasized.

A reminder that Ukraine received EUR 4.5 billion as part of transitional financing envisaged by the Ukraine Facility.

Ukrainian Prime Minister Denys Shmyhal stated earlier that Ukraine will immediately start using the funds received under the Ukraine Facility programme to pay pensions, salaries, and other state needs.

Photo: Cabinet of Ministers of Ukraine