Finance Ministry estimates Ukraine's external financing needs in 2025 at $35 bln

MOSCOW. Aug 21 (Interfax) - The Ukrainian Finance Ministry believes that the amount of external financing required by the country's budget for in 2025 has grown to $35 million from the $22.7 billion earmarked by the International Monetary Fund (IMF) in the Extended Fund Facility (EFF), Ukrainian media cited Deputy Finance Minister Olga Zykova as saying.

Taking the crisis and other factors into account, the situation during this year has shown that "this gap will now potentially be expanded by a figure ranging from $12 billion to $15 billion," Zykova said, adding she is speaking the need for about 18.2% of GDP.

Consequently, the IMF is expected to adjust its forecast following the fifth EFF review in September, she said.

Ukrainian Prime Minister Denis Shmygal said at a meeting with Ukrainian ambassadors the day before that Ukraine should require at least $38 billion in external financing in 2025, which is in line with the planned external financing for the current year.

According to estimates from the National Bank of Ukraine, international partners are expected to provide Ukraine with around $38 billion in preferential loans and grants in 2024, and at least $31 billion next year.

Information on the Finance Ministry's website indicates that the Ukrainian budget has received $98.04 billion in external financing since February 2022, including $31.1 billion in 2022, with grants totaling $14.23 billion, $42.48 billion in 2023 ($11.62 billion in grants), and $24.47 billion in 2024 ($6.55 billion in grants).