Ukraine Seeks Additional $15 Billion to Cover 2025 Budget Deficit

Prime Minister Denys Shmyhal announced that Ukraine needs an additional $15 billion to cover its 2025 budget deficit. The government plans to increase taxes and borrow more domestically. Since the 2022 Russian invasion, Ukraine has received about $100 billion in financial support from international partners.

Prime Minister Denys Shmyhal announced on Tuesday that Ukraine requires an extra $15 billion to cover its budget deficit in 2025.

Shmyhal detailed plans for tax increases and additional borrowing from the domestic debt market to secure the necessary funds for the ongoing conflict with Russia. The proposals are set to be debated by Parliament in September.

Since Russia's full-scale invasion in 2022, Ukraine has garnered approximately $100 billion in financial aid from its international allies, Shmyhal added.

(With inputs from agencies.)