Ministry of Finance of Ukraine
The Ministry of Finance of Ukraine is the central executive body responsible for shaping and implementing the state's financial and budget policy. It is headed by the Minister of Finance and reports to the Cabinet of Ministers of Ukraine. Its remit includes drafting the state budget, managing public debt, securing budget revenues, and coordinating the work of the State Tax Service and the State Customs Service. Since the start of Russia's full-scale invasion in 2022, the ministry has played a central role in securing external financing to cover Ukraine's budget deficit.
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Ukraine's parliament adopts new property valuation law, unblocking $4.2 billion EU tranche
The Verkhovna Rada has adopted a comprehensive law that fully replaces Ukraine's 2001 property valuation framework, aligning it with European and international standards. The reform is one of four decisions required to release a $4.2 billion second tranche of EU macrofinancial assistance under the Ukraine Support Loan program and is linked to Ukraine's IMF Extended Fund Facility obligations.
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Ukraine's finance minister tells Rada country is in liquidity crisis, blames $29.5bn shortfall in partner aid
Finance Minister Serhiy Marchenko told the Verkhovna Rada on 12 October that Ukraine's state budget has fallen roughly 50 billion hryvnia short of planned revenues over nine months of 2026, with 39 billion hryvnia in payments deferred to year's end and capital expenditures blocked. He attributed the squeeze to a $29.5 billion shortfall in expected partner support tied to delayed reforms under IMF, EU and World Bank programs. Marchenko said military pay and social programs remain fully funded, but the Rada must now pass dozens of reform-related bills to unlock the rest.
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Ukraine's finance minister says $29.5B needed for budget, $27B additional defense gap beyond EU loan
Ukraine's Finance Minister Serhiy Marchenko said the country needs $29.5 billion in non-military budget support from international partners by the end of 2026 and faces a separate $27 billion additional defense need beyond the EU's Ukraine Support Loan. His comments drew an implicit contrast with the European Commission's October 2 statement that there is no external financing gap for Ukraine this year.
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EU and Ukraine say 2026 budget and defence needs can be covered; Commission denies any financing gap
On 1 October 2026 the European Commission and Ukraine issued a joint statement saying they had identified the means to cover Ukraine's 2026 budget and defence needs and outlining the steps needed for timely disbursement. The next day Commission chief spokesperson Paula Pinho said the EU and Ukraine had jointly concluded there is no external financing gap for 2026, and the Commission disbursed a €2.9 billion tranche under the Ukraine Facility. The Financial Times reported that EU Commissioners formally declined Ukraine's request to front-load part of the 2027 loan, linking further payments to reforms.
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Ukraine's 2027 defense budget leaves $70 billion shortfall, ministry says
Ukraine's Ministry of Defence estimates 2027 defense needs at $175 billion, nearly double the roughly $100 billion allocated in the government's draft state budget. Officials say the $70 billion gap must be closed with international partners through instruments such as the Ramstein format and PURL. The draft, Ukraine's sixth wartime budget, projects total expenditures above 8 trillion hryvnias and relies on foreign assistance to cover a 4.3 trillion hryvnia gap.
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Ukraine suspends non-priority spending as PM warns of critical fiscal squeeze
Ukraine's Cabinet of Ministers approved a decision on 28 September prioritizing state expenditures toward defense, pensions, social payments and public-sector salaries, while suspending non-critical construction, reconstruction, capital repairs and beautification projects until the end of the war. Prime Minister Serhiy Koretsky said part of the pressure stems from delayed international financing, in part because Ukraine has not fulfilled some of its commitments to international partners. The government has identified about $7 billion through internal optimization against a reported $27 billion Ministry of Defense deficit.
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Ukraine's defense budget faces $27 billion deficit, PM says $20 billion to come from partners
Prime Minister Serhiy Koretsky said Ukraine's defense budget has a $27 billion shortfall — part of the $155 billion war financing figure declared at February's Ramstein-format meeting. Around $7 billion is to be covered through domestic austerity and internal reallocation, with roughly $20 billion being sought from international partners for drones, missiles and military equipment.
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EU member states agree on how to release €6.6 billion from European Peace Fund for Ukraine
EU member states agreed on conditions for releasing €6.6 billion from the European Peace Fund for Ukraine, ending a freeze imposed since spring 2023 by Hungary's veto. The announcement was made on 25 September by EU High Representative for Foreign Affairs and Security Policy Kaja Kallas, who called the deal "good news for Ukraine and bad news for Russia." The deal still requires formal adoption by EU defense ministers.
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Ukrainian parliament approves in first reading VAT on foreign marketplace purchases
On 16 September, the Verkhovna Rada voted in first reading for a package of bills introducing VAT on goods bought through foreign marketplaces, regardless of value. 273 MPs backed the Tax Code amendment and 267 supported a separate customs bill. Finance Minister Serhiy Marchenko said the legislation is part of Ukraine's obligations to the IMF and the EU and warned that the country has already missed a €4 billion tranche, with an October tranche still contingent on passage.
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Ukraine's government submits 2027 draft budget to parliament: defense at 44% of GDP, $52.6 billion external financing required
Ukraine's Cabinet of Ministers approved and submitted the draft State Budget for 2027 to the Verkhovna Rada on September 15, 2026. The bill, registered as No. 16000, allocates 4 trillion 885 billion hryvnias (about 43.8–44% of GDP) to defense and security, projects total expenditures of 7 trillion 272 billion hryvnias, and identifies an external financing requirement of $52.6 billion, of which only $20 billion has been confirmed by partners.
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Ukraine tells EU it needs additional $27 billion by year-end, prompting surprise in Europe
President Volodymyr Zelenskyy told European partners that Ukraine needs an additional $27 billion by the end of 2026 to cover a defence budget gap. The request, which came during a European visit for Ukraine's Independence Day, surprised officials who had agreed to a $100 billion-plus EU loan earlier in the year. European officials are now examining the size, causes, and justification of the deficit, while Ukraine is also seeking help from the United Kingdom, Canada, and Japan and pressing for the use of frozen Russian sovereign assets held at Euroclear in Brussels.
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Ukraine's 2027 budget has $32.6 billion uncovered financing need, finance minister says
Ukraine's Finance Minister Serhiy Marchenko said the country's 2027 budget faces an uncovered financing need of $32.6 billion — the tightest budget situation since the start of the full-scale Russian invasion in 2022. He called on European partners to seek additional sources of financing and presented a new proposal to redistribute roughly $300 billion in frozen Russian assets across all 27 EU member states.