Minister of Finance of Ukraine Sergii Marchenko meets with EU Commission Vice-President Valdis Dombrovskis

Minister of Finance of Ukraine Sergii Marchenko meets with EU Commission Vice-President Valdis Dombrovskis

During a working visit to Stockholm, Sweden, Minister of Finance of Ukraine Sergii Marchenko met with Executive Vice-President of the European Commission Valdis Dombrovskis.

The parties discussed cooperation within the framework of the EU’s large-scale Macro-Financial program for Ukraine for 2023, Ukraine’s rapid recovery and integration into the EU.

“We are grateful to the EU for its leadership in providing financial assistance to Ukraine. Thanks to the EU’s support, priority budget payments were made on time during the war. For this year, the MFA program provides Ukraine with concessional financing of up to EUR 18 billion, including EUR 6 billion that has already been directed to the State Budget. This is undoubtedly a substantial contribution to the financing of the budget deficit and support for the country’s economy under martial law,” said Sergii Marchenko.

The Minister of Finance of Ukraine also emphasized that the Government of Ukraine continued implementing structural reforms to become a member of the European Union. At the same time, the Minister thanked the EU colleagues for their assistance on this path: “We are actively taking measures to perform the conditions for obtaining candidate status, including the Ministry of Finance, which is involved in bringing anti-money laundering legislation in line with FATF standards. We are ready to further deepen our cooperation to ensure Ukraine’s early accession to the EU and efficient use of financial resources.”

Considering the continuation of active hostilities and the resulting economic stagnation, Ukraine needs the support of its international partners to implement a rapid recovery. Out of the USD 14.1 billion needed for 2023, the State Budget provides for USD 3.3 billion. The parties discussed tools for mobilizing the necessary resources.

Sergii Marchenko thanked the EU for its intention to contribute to the financing of the rapid recovery and noted that the urgent mobilization of the remaining funds was vital, as this year’s priorities were aimed at creating safe and proper living conditions for millions of Ukrainians, as well as creating the preconditions for sustainable economic development.

According to the RDNA2 report by the World Bank, the Government of Ukraine, the European Commission and the UN, the rapid recovery priorities for 2023 include restoration of energy infrastructure, humanitarian demining, reconstruction of damaged and destroyed housing, restoration of critical and social infrastructure, and support for small and medium-sized businesses.

The parties agreed to continue a constructive dialogue to deepen cooperation in strengthening Ukraine’s financial stability, recovery, and integration into the EU.


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