Zelensky's advisor puts Ukraine's budget deficit at $8 bln a month, calls for larger financial aid

KYIV. April 18 (Interfax-Ukraine) - Ukrainian President Volodymyr Zelensky's economic advisor Oleh Ustenko said in an interview with The New Yorker that Ukraine has a budget deficit of around $8 billion a month, whereas Ukrainian Finance Minister Serhiy Marchenko earlier projected the monthly budget deficit at $5 billion-$7 billion in April and May.

"The contraction in our economy is huge. Fifty percent of our businesses are not fully operational. Our budget revenues have fallen substantially, and our budget deficit has increased. This deficit has to be financed," Ustenko said.

In today's conditions, it would be unadvisable for Ukraine to borrow on international financial markets to cover this amount, he said. However, if the G7 provides $50 billion in new financing, that would resolve the deficit issue for at least another six months, he said.

"We need extra financial support, including from the United States," Ustenko said.