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Ukraine expects €18 billion from EU in 2024 – PM

Rt.com 25 Oct 23

Ukraine’s economy has experienced its sharpest downturn in three decades, financial experts have warned

Kiev expects to receive at least €18 billion ($19 billion) in foreign aid from the European Union (EU) next year, Ukrainian Prime Minister Denis Shmigal has said. The tranche matches the amount the country will receive from the bloc in 2023.

“EU budget support to Ukraine in 2023 already amounts to 15 billion euros – this is one of the most important factors helping Ukraine be economically resilient and stable,” Shmigal wrote on Telegram on Monday.

Kiev has recently received a sum of €1.5 billion ($1.59 billion) in what was a ninth set of EU financial assistance tranches, he added. Two more payments are expected to be completed before the end of the year to bring the total to €18 billion, according to Ukraine’s finance ministry.

Ukraine has become heavily dependent on foreign financial aid since Moscow launched its offensive in the country in February of last year, as millions of people fled due to the conflict and as logistical and supply chain routes became disrupted. Ukraine’s economy shrank by about one-third in 2022, financial experts said, in what was its sharpest economic downturn in more than 30 years.

It was announced earlier this year that the Ukrainian government would be funded by a European Commission long-term program, which will see Kiev receive €50 billion in payments between 2024 and 2027……………………………………………………………………. more https://www.rt.com/news/585631-ukraine-financial-aid-eu/ #Ukraine

October 26, 2023 - Posted by Christina Macpherson | politics international, Ukraine