The Ukrainian head of government Denys Shmyhal has asked the West for financial aid worth a good 37 billion dollars (33.67 billion euros) for 2024. In order to maintain its economy despite Russia's war of aggression, Ukraine needs “regular, stable and timely” financial support from the West, Shmyhal said on Wednesday at the first meeting of his cabinet in the new year.
At the same time, Shmyhal assured that Ukraine wants to increase its budget revenues. Almost half of government spending – 43.9 billion euros and therefore around 22 percent of gross domestic product (GDP) – should therefore be spent on defense and security. This is stipulated in the budget law for 2024, which the Ukrainian parliament passed in November.
While Ukraine received $42.6 billion in external support in 2023, concerns are now growing that financial support from the West will decrease. There is now disagreement in many countries about the extent of further support for Ukraine.
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