Ukraine may face an economic crisis next year without financial support from partner countries. The budget may have a "hole" of about $29 billion. This was stated by the Minister of Finance of Ukraine Sergiy Marchenko, Politico reports.
The official emphasizes the importance of further aid to the country from allies, and also notes that the almost $30 billion "hole" in Ukraine will have a negative impact on the European Union.
"Maintaining macroeconomic stability is very important, because in addition to the war, we are facing an economic crisis. If Ukraine is in crisis, it will have side effects in the EU," the official told reporters.
According to the head of the Ministry of Finance, Ukraine needs urgent assistance and is open to reforms, particularly in the anti-corruption sphere.
"We are ready for discussion, but we are not ready for the fact that this may cause a delay in providing support to Ukraine. We need money from the beginning of next year," Marchenko emphasizes.
Warning of possible problems for the EU due to the delay in funding for Ukraine, the minister said that the consequences of the economic crisis "will be very, very traumatic not only for Ukraine but for the whole of Europe."
"Because it can have consequences for Europe as well... in connection with migration, because of the side effect, because of the huge increase in prices across Europe, especially for some food products, and possibly again for oil and gas," he said.
Also, Marchenko again called on the allies to hand over to Ukraine about $300 billion in Russian assets frozen by the G7 countries after the aggressor country started a large-scale invasion.
"It is a legitimate priority for Ukraine to receive these Russian frozen assets for the restoration of Ukraine," the Finance Minister said.
