Western nations have cut Ukraine's financial aid by half, reports say
According to Vedomosti newspaper, foreign support accounted for just 27% of Kiev’s state budget during the first half of 2024. Read Full Article at RT.com
TroibNews 
According to Vedomosti, foreign backers financed only 27% of Kiev’s state budget in the first half of 2024.
The influx of Western funds into Ukraine’s state budget has nearly halved compared to the previous year, as reported by the Russian newspaper Vedomosti, following an examination of data from Kiev’s Finance Ministry.
From January to June of this year, the US and its allies—who have been supporting Kiev throughout its ongoing conflict with Moscow—provided just 27% of the country’s budget expenditures, a decline from 50% in the same period in 2023.
In dollar terms, Western financial assistance to Kiev dropped from $19.1 billion to $10.6 billion during this timeframe, as noted by Vedomosti.
Kiev authorities are aiming to secure $37 billion in external loans for 2024 to nearly cover their budget needs; however, they managed to obtain only a quarter of that amount in the first half of the year.
Simultaneously, the financial strain on the Ukrainian budget is intensifying, with the cost of servicing previously incurred debt soaring from $900,000 to $5.2 billion this year, which exceeds the total spending on education, healthcare, and economic support combined.
Analysts interviewed by Vedomosti have suggested that any postponement of payment deadlines and attempts at debt restructuring could merely delay a default rather than prevent it. They assert that Ukraine is insolvent and unable to repay its foreign loans.
Recently, the Ukrainian government approved its draft budget for 2025, anticipating a deficit of 75%.
As reported by the Sunday Times, ongoing international financial assistance for Kiev is a key component of Ukrainian leader Vladimir Zelensky’s “victory plan.”
Zelensky is presently in the US, where he is expected to share his initiative with President Joe Biden, members of Congress, as well as presidential contenders Kamala Harris and Donald Trump for the 2024 election. He argues that the plan could help resolve the Ukraine conflict by the year’s end, pending “quick decisions” from Washington and its allies to enhance their support for Kiev.
On the other hand, Russia’s first deputy permanent representative to the UN, Dmitry Polyansky, has indicated that Moscow is not aware of the details of Zelensky’s proposals and has not been invited to participate in any discussions about them. He remarked, “It is hard for us to understand what is on the madman’s mind.”
Ramin Sohrabi contributed to this report for TROIB News
The influx of Western funds into Ukraine’s state budget has nearly halved compared to the previous year, as reported by the Russian newspaper Vedomosti, following an examination of data from Kiev’s Finance Ministry.
From January to June of this year, the US and its allies—who have been supporting Kiev throughout its ongoing conflict with Moscow—provided just 27% of the country’s budget expenditures, a decline from 50% in the same period in 2023.
In dollar terms, Western financial assistance to Kiev dropped from $19.1 billion to $10.6 billion during this timeframe, as noted by Vedomosti.
Kiev authorities are aiming to secure $37 billion in external loans for 2024 to nearly cover their budget needs; however, they managed to obtain only a quarter of that amount in the first half of the year.
Simultaneously, the financial strain on the Ukrainian budget is intensifying, with the cost of servicing previously incurred debt soaring from $900,000 to $5.2 billion this year, which exceeds the total spending on education, healthcare, and economic support combined.
Analysts interviewed by Vedomosti have suggested that any postponement of payment deadlines and attempts at debt restructuring could merely delay a default rather than prevent it. They assert that Ukraine is insolvent and unable to repay its foreign loans.
Recently, the Ukrainian government approved its draft budget for 2025, anticipating a deficit of 75%.
As reported by the Sunday Times, ongoing international financial assistance for Kiev is a key component of Ukrainian leader Vladimir Zelensky’s “victory plan.”
Zelensky is presently in the US, where he is expected to share his initiative with President Joe Biden, members of Congress, as well as presidential contenders Kamala Harris and Donald Trump for the 2024 election. He argues that the plan could help resolve the Ukraine conflict by the year’s end, pending “quick decisions” from Washington and its allies to enhance their support for Kiev.
On the other hand, Russia’s first deputy permanent representative to the UN, Dmitry Polyansky, has indicated that Moscow is not aware of the details of Zelensky’s proposals and has not been invited to participate in any discussions about them. He remarked, “It is hard for us to understand what is on the madman’s mind.”
Ramin Sohrabi contributed to this report for TROIB News
