On September 4 (Kiev time), according to Xinhua news agency, Ukrainian Finance Minister Sergii Marchenko said that the country is facing a large foreign financial gap in 2027.
According to Mr. Marchenko, Ukraine will need about 50 billion USD of foreign financial resources in 2027. However, with existing support and financial resources, this country is expected to arrange about 17.4 billion USD, leaving a financial gap of 32.6 billion USD.
The Ukrainian Minister of Finance warned that the current situation is bringing the country closer to the scenario that occurred in 2022, when Kiev faced a serious illiquidity.
We have never had a situation like this since 2022. We are really affected by the lack of liquidity. Currently, we are getting too close to the scenario that happened in 2022," Mr. Marchenko said.
Mr. Marchenko said that if Ukraine does not guarantee financial support from allies, the government may be forced to cut off non-military spending.
The $32.6 billion financial gap has become one of the major issues for Ukraine's budget plan for 2027. Kiev still needs to maintain resources for state operations while continuing to allocate significant budget for needs related to the conflict.
Mr. Marchenko's statement shows that Ukraine is significantly dependent on external financial resources to meet budget needs in the coming year.
In that context, the Minister of Finance of Ukraine called on the European Union (EU) to consider a new plan to use a portion of about 300 billion USD of Russian assets that are being frozen to support Ukraine.
This proposal aims to exploit the frozen Russian assets in Western countries to supplement financial resources for Kiev.
The use of frozen Russian assets to support Ukraine has long been an issue discussed by Western countries. This is also a financial source that Kiev has repeatedly called on allies to consider exploiting to serve the needs of this country.
According to Mr. Marchenko, narrowing the financial gap in 2027 will depend significantly on Ukraine's ability to continue to receive support from international partners.
