Ukraine needs $52B in external financing in 2026 to cover budget needs – Finance Ministry
Ukraine's external financing needs remain substantial, amounting to about $52 billion in 2026 to cover state budget requirements.
According to Ukrinform, the Ukrainian Finance Ministry said this in a statement following the 16th meeting of the Steering Committee of the Ukraine Donor Platform, held in Kyiv on March 25.
The meeting brought together representatives of the Ukrainian government, G7 countries, the European Union, and international financial institutions. Participants included Prime Minister Yuliia Svyrydenko, senior Ukrainian officials, European Commission Director-General for Neighborhood and Enlargement Negotiations Gert Jan Koopman, Acting U.S. Coordinator for Assistance to Europe, Eurasia and Central Asia at the State Department Kirsten Sieling, and France's Special Envoy for Ukraine's Recovery and Reconstruction Muriel Lacoue-Labarthe.
The parties discussed ensuring Ukraine's budget needs for 2026, restoring critical infrastructure, and implementing structural reforms.
Finance Minister Sergii Marchenko thanked partners for their unprecedented support: "In 2025, Ukraine received $52.4 billion in direct budget support. These funds made it possible to fully cover key social and humanitarian expenditures. I sincerely thank all partners for their effective cooperation, which helped maintain the country's financial stability."
He also outlined key budgetary needs for the current year.
"In 2026, the state budget remains under pressure due to significant defense and recovery spending. We have already made progress in mobilizing the necessary resources. In the first months of 2026, $5.5 billion has been raised, including through the ERA mechanism and with the support of the IMF, the World Bank, and Japan," Marchenko said.
According to him, external financing needs remain high at around $52 billion for 2026.
The minister also highlighted a new $8.1 billion IMF program aimed at supporting macro-financial stability and advancing structural reforms. The first tranche of approximately $1.5 billion has already been disbursed.
Another key element of support is the European Union's decision to provide EUR 90 billion in loan assistance to Ukraine for 2026-2027. Marchenko expressed hope that the first tranche would be received soon.
Despite ongoing challenges, state budget execution remains stable, partly due to improved tax administration.
In 2025, tax revenues increased by about 20% and customs revenues by 21%, while in January-February 2026, budget revenues grew by 16.5% compared to the same period last year.
Marchenko also thanked partners for effective cooperation within the platform, which currently includes 25 participants, including countries with permanent and temporary membership or observer status, as well as seven international financial institutions.
Since the start of the full-scale war, Ukraine has received more than $172.9 billion in budget support, though funding gaps for 2026-2027 remain significant.
Photo credit: Ukrainian Finance Ministry