Next year's budget deficit will be about 21% of GDP - PM Shmyhal

Ukraine will require about $42 billion in financial assistance to cover the budget deficit in 2024.

Prime Minister Denys Shmyhal stated this in his speech at the annual autumn meetings of the International Monetary Fund and the World Bank Group, Ukrinform reports with reference to the Prime Minister’s Facebook page.

According to the head of the government, "international support is one of the main factors that helped Ukraine resist Russia’s full-scale aggression. Next year's budget deficit will be about 21% of GDP."

"We expect support from all our partners, which will allow the government to meet its basic social obligations to pay pensions, salaries to doctors and teachers, and to help those whose homes have been destroyed by Russia,” Shmyhal stressed.

He said that all taxes collected are directed to security and defense of Ukraine.

Shmyhal thanked all partner countries and international financial organizations for the support provided to Ukraine during the full-scale war.

As Ukrinform reported, the Annual Meetings of the International Monetary Fund and the World Bank started in Morocco on October 9. Among the most important topics are the impact of the Russian war on the global economy, the continuation of financial support for Ukraine, and food security challenges.