Ukraine is seeking fresh funding for 2027 and says it is ready to deliver the reforms. Prime Minister Serhii Koretskyi says Ukraine’s external budget financing need for 2027 exceeds $52 billion, with more than $32.6 billion still to be raised.
That money underwrites the basics of a country at war: the army, pensions, hospitals, and support for business, he notes. Defense and security alone will take almost 44 percent of GDP in the 2027 budget, and the gap comes as Russia keeps hammering the infrastructure that generates Ukraine’s own revenue.
“The defense capability of the country, the payment of pensions, the support of hospitals and business depend on these funds,” Koretskyi says.
The hole Russia keeps digging faster than Kyiv can fill it
Russia’s strikes widen the gap even as Kyiv tries to close it. Russia systematically attacks critical infrastructure, business, production and civilian sites, and the destruction and halted enterprises will leave tax revenues about $1.5 billion below forecast by the end of the year, he warns.
For instance, output of Ukraine's steel industry, one of the pillars of its wartime economy, fell 57.3% in August due to Russian strikes. This sector is Ukraine's second-largest foreign-currency earner, employing more than 70,000 people directly and another 250,000 in related industries, and paying close to $1 billion a year in taxes.
Beyond the budget itself, the off-budget needs of Ukraine’s Defense Forces for 2027 are estimated at $45 billion, or about 40 billion euros, a figure that sits on top of the $52 billion budget requirement, he says.
The reforms Kyiv must deliver to unlock the money
The money hinges on reforms Ukraine still has to deliver. In the next few days, the government is to approve all the decisions needed to continue financing.
“Ukraine continues to work on fulfilling its part of the commitments. This week, the government is expected to approve all the necessary decisions to ensure continued funding,” the Ukrainian prime minister says.
Meanwhile, the Parliament plans to consider the bills required under the support programs of the IMF, the World Bank and the EU.
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