Hetmantsev: Ukraine faces $8–19 billion funding gap in 2026, depending on scenario

Ukraine’s need for international financial assistance will remain high, even if the fighting stops, Danylo Hetmantsev, Chairman of the Verkhovna Rada Committee on Finance, Taxation, and Customs Policy, said in an interview with Novyny.Live.

"Despite ongoing negotiations, we cannot be sure that the war will end, unfortunately. We have to plan for the pessimistic scenario, and even a cessation of hostilities will not lead to a significant reduction in security and defense spending," the MP said.

This is why Ukraine intends to revise its current program with the International Monetary Fund (IMF) and negotiate a new one, as the existing terms no longer reflect wartime realities.

According to Hetmantsev, the program, in place since 2023, was designed under the assumption that active hostilities would end in 2024. However, the war continues, and defense spending will remain high through at least 2026–2027.

"Although we are steadily progressing through 2025, financial uncertainty persists for 2026–2027. We will need about $70 billion more for these two years. Even in 2026, let alone 2027, we are currently only one-third funded. The remaining $8–19 billion, depending on the scenario, still needs to be secured," Hetmantsev said.

He emphasized that the IMF program serves as an "anchor" for other partners and a signal that Ukraine is meeting its obligations. It is therefore crucial to agree on new conditions so that international donors and creditors have the basis to continue supporting the Ukrainian budget.

• According to the Financial Times, the EU is considering three ways to cover Ukraine’s budget deficit for 2026.