Zelensky: Most of Ukraine's budget deficit is funding for weapons
Ukrainian President Volodymyr Zelensky said Ukraine had received a constructive response from the EU and the International Monetary Fund regarding the need to cover the budget deficit, most of which is related to weapons funding.
Ukrainian President Volodymyr Zelensky emphasized that a significant portion of the country's budget deficit is allocated towards funding weapons. During a media briefing, Zelensky discussed his recent meetings with business leaders, financial groups, IMF Managing Director Kristalina Georgieva, and European Commission President Ursula von der Leyen.
He noted positive and constructive feedback from the EU and the International Monetary Fund, highlighting the importance of addressing the deficit. Zelensky stressed that Ukraine cannot be left to face this challenge alone and that more investment is needed in Ukrainian-made drones and missiles. He reiterated that the constant strikes are making this period particularly difficult.
The president affirmed that EU support would continue, and the IMF would persist with its programs. Zelensky outlined that the prime minister, finance minister, and head of the Foreign Intelligence Service will collaborate to finalize the deficit coverage plans. He indicated that some funds could be generated through the Drone Deal framework.
The Ukrainian team is currently working on these details, and a future meeting with the European counterparts is planned either in Ukraine or Belgium. The budget deficit of Ukraine's Ministry of Defense is presently estimated at $27 billion.
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