Prime Minister Serhii Koretskyi discussed the state of Ukraine’s public finances and the country’s funding needs for 2026 and 2027 with national security advisers to the leaders of Germany, the United Kingdom and France. He said the cost of the war continues to rise as Russia increases its production and use of missiles and drones.
This was reported by Ukrainian Prime Minister Serhii Koretskyi.
Ukraine’s finance and economy ministers, diplomats and heads of diplomatic missions also took part in the meeting.
The Ukrainian side briefed its partners on the impact of Russian attacks on businesses and civilian infrastructure and outlined the government’s main economic and social challenges ahead of winter.
“The cost of waging the war is undoubtedly increasing. The enemy has significantly expanded the production and launch of drones and missiles. Ukraine has to respond accordingly, and that requires more resources,” Koretskyi said.
The prime minister said Kyiv is counting on joint decisions with its partners to secure the necessary financing. Ukraine, for its part, must fulfil a number of commitments, including continuing EU-integration reforms that are linked to the disbursement of part of its macro-financial assistance.
Financing remains one of the key challenges for Ukraine’s state budget. According to updated IMF estimates, Ukraine’s total expenditure in 2026 will amount to about UAH 7.94 trillion, while revenue excluding budget grants will be around UAH 5.79 trillion. The deficit excluding grants is estimated at roughly UAH 2.15 trillion, or about 21% of GDP.
Ukraine can finance a deficit of this size only with substantial external support. The IMF estimates the country’s overall financing gap for 2026-2029 at around $140 billion.
For the next 12 months, from the third quarter of 2026 through the second quarter of 2027, partners have already provided assurances covering about $52.3 billion in financing, excluding IMF resources.
At the same time, Ukraine’s needs continue to increase because of the war. Reuters reported in early September that the country faces, among other things, an uncovered gap of about $27 billion in defence funding. The government also depends on meeting the conditions of EU and IMF programmes, as delays in reforms could postpone multibillion-dollar tranches of international assistance.
Koretskyi said the government has a clear plan for fulfilling its share of the commitments needed to receive the international support scheduled for this year.
According to the prime minister, Ukraine and its partners share the same view of the next steps following the meeting.
