Ukraine’s Prime Minister: Ukraine will require over $40 billion in external financing in 2026

This was stated by Prime Minister Denys Shmyhal on Telegram, as reported by Ukrinform.

“A key priority for the Ukraine Donor Platform remains ensuring our country’s financial resilience. We launched URC-2025 with the 14th meeting of the Platform’s Steering Committee,” Shmyhal noted.

The Prime Minister recalled that at the end of June, the government submitted amendments to the state budget law, which included an increase in defense expenditures by nearly $10 billion. He said that this will enable Ukraine to counter enemy aggression more effectively.

“The total financial allocation for defense and security in 2025 will amount to nearly $50 billion, or 26% of GDP,” Shmyhal emphasized.

He added that the budget for weapons procurement alone will reach a record $16.4 billion. At the same time, domestic budget revenues are projected at $48.5 billion.

“Thus, external financing remains critically important for Ukraine, as it allows us to direct domestic resources toward defending our country,” the Prime Minister underscored.

Shmyhal reported that Ukraine has already secured $22 billion in external financing this year.

“However, 2026 presents a significant challenge. Our external financing needs are projected to remain at over $40 billion. Developing mechanisms and instruments to attract these funds must become a key task,” he stressed.

He also noted that the Cabinet of Ministers continues its efforts to consolidate internal resources.

“Due to economic recovery and systemic reforms, our state budget outperformed projections by $1 billion in the first five months of this year,” Shmyhal added.

As Ukrinform reported earlier, the European Union’s €6 billion financial assistance package, planned for December, is intended to cover the anticipated shortfall in Ukraine’s budget expenditures at the beginning of next year.

Photo: Telegram/Denys Shmyhal