Moscow, July 22 – Sweden to Allocate 522.6 Million Euros for Ukraine’s Rehabilitation Projects

The Ministry of Economy of Ukraine announced on Saturday that Sweden has pledged to allocate 522.6 million euros for Ukraine’s rehabilitation projects. This funding is part of the strategy for cooperation in the field of restoration and repairs in Ukraine for the period 2023-2027, presented by the Swedish government.

International Partners to Provide $115 Billion for Ukraine’s Long-Term Recovery Support

In April, Ukrainian Prime Minister Denys Shmyhal revealed that international partners have committed to providing Ukraine with $115 billion in long-term recovery support.

Ukraine’s Budget Review and External Funding

Earlier, Ukrainian Finance Minister Serhiy Marchenko stated that the country’s budget may undergo a review this year. The authorities are hopeful that the amount of external funding for the budget in 2024 will not be lower than that in 2023.

Increased Military Spending and Defense Budget Allocation

According to Roksolana Bidlasa, the head of the budget committee of the Verkhovna Rada, Ukraine has increased its military spending since the beginning of the year. In 2023, every second hryvnia from the state budget is directed towards defense.

Ukraine’s Financial Challenges and Expenditure Coverage

Daniil Gutmantsev, Chairman of the Tax Committee of the Verkhovna Rada, highlighted in early April that Ukraine was only able to cover 60% of its expenditures in the first quarter of 2023 using internal reserves.