Ukraine's financial results better in 2023, budget revenues up by 45% in May

Ukraine's financial results have improved this year, with budget revenues increasing by 45% in May compared to the same period a year ago, Finance Minister Serhiy Marchenko said on Friday.

Now almost 16 months into its conflict with Russia, Ukraine has been balancing its budget this year mostly through support from the European Union, the United States, the International Monetary Fund and other partners.

"In 2023, we have much better financial results than a year ago. Thanks to strong financial support and comprehensive measures implemented by the government, we ensure a balanced budget and financing of critical expenditures, primarily in the social sphere," Marchenko said in a statement.

"Monetary and fiscal policies are under control," he said, adding that state budget revenues increased by 45% in May this year compared to May 2022.

The government has already received nearly $22 billion in foreign financial aid so far this year. Marchenko also said that Ukraine's international partners had reiterated their commitment to provide $42.5 billion in budget support this year.

Reuters