Ukraine Will Be Able to Finance Military and Civilian Needs Until Mid-2025 without US Support, Says Finance Minister
In a recent interview with Spanish newspaper El Pais, Ukrainian Finance Minister Serhiy Marchenko stated that Ukraine will be able to finance its military and civilian needs without US support until mid-2025. This news comes as a relief to many Ukrainians who have been concerned about the country’s financial stability in the face of ongoing conflict with Russia.
According to Marchenko, Ukraine’s economy has shown remarkable resilience in the face of external pressures, including the ongoing conflict with Russia and the COVID-19 pandemic. He noted that the country’s GDP has grown by 4% in the first nine months of 2021, and the government has managed to reduce the budget deficit to 5% of GDP, down from 7.5% in 2020.
This positive economic outlook has allowed Ukraine to decrease its reliance on external financial support, including from the US. Marchenko stated that the country has been able to secure financing from other sources, such as the International Monetary Fund and the European Union, and is confident that it will be able to continue to do so in the future.
The finance minister also emphasized that the government is committed to implementing necessary reforms to improve the country’s economic stability and attract foreign investment. He highlighted the recent adoption of a new land law, which allows for the sale of agricultural land, as a step towards creating a more attractive business environment.
Some experts have expressed concerns about Ukraine’s ability to sustain its economic growth without US support, given the country’s ongoing conflict with Russia. However, Marchenko reassured that the government has taken necessary measures to mitigate any potential risks, including creating a reserve fund and diversifying its sources of financing.
The news of Ukraine’s ability to finance its military and civilian needs without US support until mid-2025 has been met with optimism and pride by many Ukrainians. It is a testament to the country’s resilience and determination to overcome challenges and build a stronger, more stable economy.
The US has been a key ally and supporter of Ukraine in its fight against Russian aggression, providing financial and military aid. However, Marchenko’s statement serves as a reminder that Ukraine is not solely dependent on external support and is capable of standing on its own feet.
In conclusion, Ukraine’s finance minister’s remarks about the country’s ability to finance its needs without US support until mid-2025 is a positive development for the country’s economy and its people. It demonstrates Ukraine’s progress in building a strong and stable economy and its determination to continue on this path. The government’s commitment to implementing necessary reforms and diversifying its sources of financing will only further strengthen Ukraine’s economic resilience.
