Ukraine’s Finance Ministry to focus on finding funds for recovery – minister

Reaching an agreement with the International Monetary Fund (IMF) on a four-year EFF program worth $15.6 billion allows us to talk about solving the problem of financing the 2023 state budget deficit and the possibility of actively seeking funds for recovery, Finance Minister Serhiy Marchenko said.

"We are also actively working to raise funds for recovery, and this will now be the main focus and priority of our activities," he said on the air of the national telethon on Wednesday.

Marchenko noted that the EFF program is an anchor, allowing combining donor support. "If all the obligations that the G7 countries have taken are fulfilled, we can close the state budget deficit for 2023," the Finance Minister stated.

Speaking about raising funds for restoration, the minister pointed out that this year Ukraine will be able to absorb no more than $14 billion – "these are the figures that were agreed upon by the World Bank experts together with the relevant departments: the Ministry of Restoration and other ministries."

According to him, the Russian frozen assets are not helping solve this problem this year, and the Ministry of Finance will independently try to find funds.

"Before the war, we mastered no larger volumes than are now offered. We are now at war, not always a business that carries out reconstruction, repair, is ready to work with a country in which there is a war. Therefore, after the war there will be a completely different reality and other opportunities , including attracting private investment and business in terms of restoring Ukraine," Marchenko commented on the recently announced general assessment of Ukraine's needs for restoration at $411 billion and the need for 2023.

The Minister believes that the post-war increase in capacity is not a difficult task.

Source: www.en.interfax.com.ua