Ukraine may slash National Cashback funding by 60%, saving $89 million a year
Ukraine could cut funding for its National Cashback program by 60%, saving up to UAH 4 billion (about $89 million) annually, Economy and Environment Minister Oleksandr Kravchenko said in an interview with Forbes Ukraine published on Sept. 28.
Ukrainian President Volodymyr Zelenskyy has instructed the government, the Ministry of Foreign Affairs, and the President’s Office team to secure the necessary funding for Ukraine's defense requirements by October 15. In a televised address, Zelenskyy emphasized that the Prime Minister, the Minister of Foreign Affairs, and the Office team are fully responsible for fulfilling their commitments.
He urged parliamentarians to provide effective support, stating that the government must meet its obligations by the deadline if they want parliament to offer an equally clear timeline. Zelenskyy also met with Ukrainian Prime Minister Serhiy Koretsky and the diplomatic team to discuss key priorities in relations with partners for the following week and the current situation.
The government aims to complete everything with partners, using their funding, particularly for defense orders, by the end of the year, with a total required funding estimated at $155 billion. Until recently, no sources were identified to cover $27 billion of this amount, but the government and the Ministry of Finance have already stated their ability to cover about $7 billion using domestic resources.
For the upcoming year, Ukraine's defense funding needs are projected to increase to $175 billion, with the government's draft state budget currently allocating around $100 billion.
Written by urgent.news from Interfax-Ukraine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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