Ukrainian government introduces strict budget austerity measures – PM Koretskyi

Andrii Muravskyi - 1 September, 13:42

Ukrainian Prime Minister Serhii Koretskyi. Photo: Koretskyi on Facebook

Ukrainian Prime Minister Serhii Koretskyi has announced that the government is introducing strict austerity measures for budget funds not earmarked for defence needs.

Source: Interfax-Ukraine

Quote: "The government is introducing strict austerity measures for budget funds that are not earmarked for defence needs. As a result, we have already identified UAH 70 billion (about US$1.6 billion) in savings, which will be allocated in full to defence needs.

Meanwhile, we must fulfil all necessary social commitments. Therefore, there will be no problems with pensions or salaries."

Details: Koretskyi said that the government should also follow the principle of maximum savings when preparing the 2027 state budget.

He called on MPs to actively participate in the process of drafting the 2027 budget.

Background:

The leadership of Ukraine's Ministry of Finance and experts from the International Monetary Fund have begun discussing the economic outlook and the draft state budget for 2027.
It was previously reported that the government plans to revise the 2026 state budget due to additional funding needs of Ukraine's defence forces.

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