Zelensky’s adviser predicted Ukraine’s budget deficit of $50 billion
Since the end of February, Ukraine has lost 30-35% of its GDP, economist Oleg Ustenko said. The office of the Ukrainian President estimated the damage from the hostilities at $600 billion =”Zelensky's adviser predicted a $50 billion budget deficit in Ukraine” />
Ukraine's state budget deficit at the end of 2022 will be about $50 billion. Oleg Ustenko, economic adviser to the President of Ukraine, cited this estimate.
“I would expect that by the end of the year we would have a global government budget deficit of somewhere around $50 billion. That's somewhere around 30–35% of our GDP,”— Ukrinform quotes Ustenko.
According to the economist, in the conditions of hostilities, the monthly budget deficit is $5 billion. But in mid-July, Ustenko told FT reporters that Ukraine needed $9 billion every month to cover the deficit.
” “We will try to survive anyway, but without the financial support of our allies, it will not only be difficult, it will be almost impossible,” acknowledged Zelensky's adviser.
In June, the head of the office of the President of Ukraine, Andriy Yermak, said that due to the hostilities and their consequences: the departure of 5 million people and the loss of control over two hundred enterprises,— The country lost 35% of its GDP. “Our direct losses already exceed $600 billion,” — he said.
It will take $30 billion to $100 billion annually to restore Ukraine, Timofei Mylovanov, an adviser to the head of the presidential office, said in mid-July. $20 & ndash; 30 billion a year is needed to support the macroeconomics, the same amount & mdash; to support the army, he explained.
Read on RBC Pro Pro 5 trillion rubles. dropping revenues: what mood is the service industry in? Research Pro Five luxury brands go public. What is important to know about the Lanvin Group Articles Pro Rescue from the heat: how to deal with the summer sales decline Instructions Pro International logistics in 2022: how goods are imported into Russia now Articles Pro Parallel import of equipment: what is wrong Articles Pro Anger, disgust and debriefing »: Why Talking About Sex Is So Difficult Instructions Pro On the Other Side: How to Keep Your Assets Abroad including representatives of the EU and the World Bank. Kyiv presented a program to restore the country for $750 billion.
The plan was prepared in Zelensky's office. It is designed for ten years and provides for 850 projects in various fields. The authors proposed to allocate the largest amounts of funding to the programs “Restoration and modernization of housing and infrastructure in the regions”; ($ 150 & ndash; 250 billion), “Expanding and integrating logistics in the EU” ($120-160 billion) and “Energy Independence and Green Deal” ($130 billion). As conceived by the creators, when implementing the plan, Ukraine's GDP growth should be 7% annually. Mylovanov called this plan ambitious and considered that such assistance helped Ukraine become a developed country.
The head of the European Commission, Ursula von der Leyen, said that the EU would create a platform for coordinating the reconstruction of Ukraine, and said that since the outbreak of hostilities in In the republic, the European Union attracted about €6.2 billion ($6.48 billion) as financial assistance to Kyiv. “We will deal mainly with medium-term and long-term reconstruction,” — von der Leyen promised.
As part of the conference in Lugano, Kyiv agreed to provide a loan of $1.9 billion, including for the development of the agricultural sector, preparation for the heating season and digitalization.
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