Ukraine May Revise 2023 Budget Again - Finance Ministry

Ukraine may revise its 2023 budget one more time, taking into account that a significant part of the funds is now allocated for defense and security, Ukrainian Finance Minister Sergii Marchenko said on Wednesday

MOSCOW (UrduPoint News / Sputnik - 29th March, 2023) Ukraine may revise its 2023 budget one more time, taking into account that a significant part of the funds is now allocated for defense and security, Ukrainian Finance Minister Sergii Marchenko said on Wednesday.

"I do not rule out that we will have to revise Ukraine's budget for 2023 again, with a significant share of it now falling on security and defense," Marchenko told Ukrainian broadcaster Rada tv.

If there is a revision, Kiev will take money from internal and external revenues. As for the country's reconstruction, the Ukrainian government will have to seek funds on its own, Marchenko said, adding that Russia's frozen assets would be of no use there.

Last week, the Ukrainian parliament approved a $14.5 billion increase of its defense expenditure, with about $10 billion allocated for the country's defense ministry and $2.6 billion for the internal ministry.

In November, Ukraine adopted the 2023 state budget with a deficit of $35.1 billion. Ukrainian Prime Minister Denys Shmyhal said that the plan provided for income of around $34.7 billion and expenditure of about $69.5 billion, with a monthly deficit of $3 billion, which Ukraine hopes to close using external borrowing.