Zelensky says Ukraine needs about $4 billion to cover urgent needs
President Volodymyr Zelensky said Ukraine currently lacks approximately $4 billion to cover urgent needs, and that most of the gap is to be raised through bilateral aid and arrangements with the European Union. He described the shortfall as a much smaller problem than before, while Ukraine's finance minister warned that some non-military payments may be delayed. The European Commission said on October 2 that it believes Ukraine does not have a budget deficit for 2026, contradicting Zelensky's account.
Key points
- Zelensky said Ukraine currently lacks approximately $4 billion to cover urgent needs.
- He said most of the missing sum is planned to be raised through bilateral aid and EU agreements.
- Zelensky said the Ministry of Finance knows where to obtain about $3 billion of the required sum, but the deficit is not yet covered.
- He said there is "political will" to accelerate the allocation of a $12 billion loan for next year.
- Ukraine has stated it has a $27 billion deficit in the defense budget.
- Prime Minister Serhiy Koretsky attributed the deficit to the rising cost of war, front-loading of defense financing, and unfulfilled partner obligations.
- Finance Minister Serhiy Marchenko said some non-military payments may be delayed due to the budget deficit.
- On October 2, European Commission spokesperson Paula Pinho said the EC believes Ukraine has no 2026 budget deficit, contradicting Zelensky.
Why it matters
The statement quantifies the scale of Ukraine's immediate budget shortfall and signals that Kyiv is counting on external partners, including the EU, to close most of the gap. It ties the current $4 billion shortfall to a broader context that includes a stated $27 billion defense budget gap and warnings of possible delays to non-military payments. It also puts Kyiv at odds with the European Commission, which as of October 2 publicly assessed that Ukraine has no budget deficit for 2026.
What happened
President Volodymyr Zelensky told journalists, as reported by a Suspilne correspondent, that Ukraine currently lacks approximately $4 billion to cover urgent needs. He said the bulk of the missing sum is to be raised through bilateral aid and arrangements with the European Union, and that the Ministry of Finance has identified sources for roughly $3 billion of the required amount, though that portion is not yet covered. Zelensky added that there is political will to accelerate the allocation of a $12 billion loan for next year, and framed the combined task of bringing forward the $12 billion and finding $4 billion as a much smaller problem than before. He also said Ukraine faces a $27 billion deficit in the defense budget. Prime Minister Serhiy Koretsky attributed the deficit to the rising cost of war becoming more technological, the Ministry of Defense financing first-half 2026 expenditures at the expense of the second half, and the non-fulfillment of all partner obligations. Finance Minister Serhiy Marchenko warned that some non-military payments may be delayed because of the deficit.
How Ukrainian sources describe it
Both supplied sources are Ukrainian media reporting Zelensky's statements directly. The coverage emphasizes the $4 billion figure and the planned channels — bilateral aid and EU arrangements — for covering it, and highlights attributed explanations from the prime minister and finance minister for the shortfall.
Where reporting differs
Zelensky states Ukraine currently needs about $4 billion to cover urgent needs, while European Commission spokesperson Paula Pinho said on October 2 that, based on a meeting with Ukrainian diplomats, the European Commission believes Ukraine does not have a budget deficit for 2026.
Background
Zelensky has previously told Reuters the current budget deficit would be closed by the end of the year. A $12 billion loan allocation is being discussed, with stated political will to accelerate it for next year.