The government plans to provide additional funding to the Armed Forces of Ukraine

This was announced by Ukrainian Prime Minister Denys Shmyhal during a press conference on Tuesday, September 10.

"The amount of UAH 500 billion that was announced is the military budget deficit that we must finance by the end of the year. Partners do not provide funding for the Armed Forces, so we must provide this ourselves. And we are finding resources and financial instruments for this," Shmyhal noted.

So, today Ukraine is seeing an overfulfillment of the plan for collecting taxes and payments to the budget. As of today, according to Shmyhal, we are already talking about 75 billion UAH.

"This is, in fact, the first brick that forms these 500 billion. The second part is our savings on servicing this year’s external debt. Thanks to the negotiations and agreements reached, we saved 64 billion hryvnia," the Prime Minister added.

Another source of covering the budget deficit is internal borrowing on the market, which is planned at the level of UAH 220 billion.

“Negotiations are currently ongoing with our banks, which have greater liquidity resources and are ready to provide the state with a little more,” Shmyhal emphasized.

He also mentioned a proposal to increase the military tax and distribute it “fairly” among Ukrainians, which is still under discussion, and noted that Ukraine plans to gain access to $50 billion in confiscated Russian assets next year, which will serve as a safety net to finance the budget deficit.

"Of course, we are not focusing only on this year. These changes are, of course, aimed at ensuring budget and macro-financial stability next year. We will get through this year, we will find opportunities for borrowing, how to refinance. There is also an advance payment tool that should not be forgotten. Therefore, we have a certain optimism for this year," the official concluded.

According to Shmygal, the issue of hryvnia is not planned.