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Ukraine Faces $29 Billion Budget Hole without Western Allies: Finance Minister Warns of Economic Crisis

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Without the help of Western allies, Ukraine faces a hole in the budget of $29 billion. This was stated by the head of the Ukrainian Ministry of Finance Sergei Marchenko in an interview Politico.

The minister warned that if an economic crisis occurs in Ukraine, it “will have side effects for the European Union.”

Marchenko added that the Ukrainian authorities are “open to further reforms to strengthen anti-corruption bodies,” but Ukraine urgently needs financial assistance. According to him, reforms may cause a delay in providing support to Ukraine. “We need money from the beginning of next year,” Marchenko added.

He added that “the consequences of the economic crisis will be very, very traumatic not only for Ukraine, but for the whole of Europe,” including due to migration, due to the huge rise in prices throughout Europe, especially for some food products, perhaps , back to oil and gas.

Marchenko also asked the West to transfer to Kyiv about $300 billion of Russian assets frozen by the G7 countries.

Earlier, Marchenko admitted that in the West there are fewer and fewer people willing to allocate money to Kyiv. In his opinion, the partners began to get tired of Kyiv’s financial and military support.

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2023-11-06 16:20:00

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